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EDE (El Dorado Exchange)EDE (El Dorado Exchange)by0x9a94DD41a22Fdc85DA59b10B9dA9f234931EB7Ae0x9a94…B7Ae

Change ELP weights

Voting ended about 3 years agoSucceeded

This proposal will decide the ELP tokens weights to incentivize adding more non-stable coin assets into the pool.

The proposed changes are as follows:

Decrease BUSD weighting from 50% => 35% Increase Eth weight from 10% => 20% Increase BTC weight from 15% => 20% Keep wBNB at 25%

This would mean the fee would be lower to add BTC & ETH until the desired weight has been achieved and the fee would be higher for adding $BUSD into the pool until the weighting of BUSD is below 35%. Redeeming BUSD will also be cheaper until 35% weight has been achieved.

It also means the pools composition is geared towards non-stable assets meaning in times of high volatility, ELP may change, but shorting would be reduced.

At the moment, the majority of positions opened are longs rather than shorts, so we feel it would be wise to facilitate more longing of assets, thus more trading volume, thus more fees.

ELP weights.png

Off-Chain Vote

Yes change weights
22.54K gEDE29.8%
No keep weights as is
0 gEDE0%
Change after further discussion
53.13K gEDE70.2%
Reject further discussion needed
0 gEDE0%
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Timeline

Dec 31, 2022Proposal created
Dec 31, 2022Proposal vote started
Jan 01, 2023Proposal vote ended
Oct 26, 2023Proposal updated