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Dollar ProtocolDollar Protocolby0x389537E0aa650459337FD80890B2b2Ee5514F2870x3895…F287

Remove USDx Staking and Reallocate rewards to Share/LP/Xbond. Also a slight modification to how xbond is redeemed.

Voting ended about 5 years agoSucceeded

This proposal would remove USDx staking and reallocate the rewards to the pools that are deemed to be value accruing in the protocol. As of current USDx staking is currently not affected by USDx debase and is essentially a liquid xbond. This invalidates an entire part of the system and does not actually contribute to the protocol. In general this was a failed experiment and as mentioned the values would be better used incentivizing liquidity and xbond redemption.

This proposal will also include a slight change to the way xbond is redeemed. Currently you must claim xbond every rebase and if you do not, that unredeemed amount goes into the locked USDx pool and raises the value of all xbonds. I move to make it so that rewards can accrue and be claimed in a batch so as to lessen gas costs, and allow smaller players to effectively use the xbond mechanic. This would enable everyone to benefit from the mechanic and potentially drive more minting towards it.

In Summary: New seignorage rewards 15% Share Staking/35% USDx-USDC LP/50% Xbond.

Xbond mechanic will now allow rewards to accrue over multiple rebases and be claimed in one transaction instead of transfering those rewards into the locked USDx pool.

Off-Chain Vote

Yes
99.99K 100%
No
0 0%
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Timeline

Jan 17, 2021Proposal created
Jan 18, 2021Proposal vote started
Jan 21, 2021Proposal vote ended
Oct 26, 2023Proposal updated