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dYdXdYdXby0xf90dC46f86c3F78de244080143968433598120440xf90d…2044

Simplifying Trading rewards to w=fees, and 25% rewards to be moved to treasury

Voting ended over 3 years agoSucceeded

The current Trading Rewards formula should be simplified to completely remove the Open Interest term, which as research has found adds nothing productive but takes up trading firms margin in order to put on fake large hedged Open Interest positions.

We propose moving to a simple rewards = proportion of total fees paid, ie collapsing the formula to simply: w = fees

Also a reduction of 25% of monthly rewards by sending it to the treasury, which will need to also be ratified by a separate on-chain vote.

Off-Chain Vote

w=f and reduce rewards by 25%
22.8M DYDX99.1%
No changes
200.94K DYDX0.9%
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Discussion

dYdXSimplifying Trading rewards to w=fees, and 25% rewards to be moved to treasury

Timeline

Jul 26, 2022Proposal created
Jul 27, 2022Proposal vote started
Jul 31, 2022Proposal vote ended
Oct 26, 2023Proposal updated