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BendDAOBendDAOby0x200D26204DDb9Eb07C8c3D73Fbb1E2E16527bD19piratecode.eth

BIP #55 Adjust the bend token incentive to fit the protocol in the future

Voting ended almost 2 years agoSucceeded

Summary

Make token incentive more fit to the market.

** Background **

BendDAO was once a platform focused only on ETH lending, but now we are now multi-assets lending platform, and we are going to make it multi-chain with different version protocols ,so the incentive of bend token on ETH is not suitable anymore.

** Motivation **

  • To incentive token better to marketing like new collection listing or new version of protocol or even use points to farm token like other protocols
  • If the ETH borrowing interests is too high, we can have another proposal to lower it by changing other parameters
  • Point system maybe a better solution

Phase 1: Idea or Draft Minimum number of supports: 10 - Pass Discord Idea: https://discord.com/channels/897709643948761148/1209116674838757386

Phase 2: BendDAO Forum Discord Minimum number of voters: 10 - Pass Forum:

Adjust the bend token incentive to fit the protocol in the future - BIP Ideas - BendDAO

Phase 3: On-chain voting Voting Quorum: Approximately 56M veBEND (10% of the total supply) Pass Rate: Over 70% Approve. The voting will last for 7 days.

Changes None

$BEND Token Incentives: All the token incentive for ETH lending now will stop

Off-Chain Vote

Stop in 3 weeks
2.81M veBEND1.3%
Stop in 4 weeks
217.53M veBEND98.6%
Stop in 5 weeks
223.22K veBEND0.1%
Stop in 6 weeks
0 veBEND0%
Oppose
0 veBEND0%
Abstain
0 veBEND0%
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Discussion

BendDAOBIP #55 Adjust the bend token incentive to fit the protocol in the future

Timeline

Feb 23, 2024Proposal created
Feb 23, 2024Proposal vote started
Feb 29, 2024Proposal vote ended
Mar 15, 2024Proposal updated