EQUIP-10: Proposal on Cancelling Profit Rate Mining and Loss Compensation Mining

Specification

Since the launch of profit rate mining and loss compensation mining, there have been some competitive behaviors that affect fairness. For example, some users, aiming to secure USDT rewards, have entered the competition using multiple addresses per individual, dominating the top ranks of the leaderboard and capturing the majority of USDT rewards. This situation has resulted in other regular participants only receiving a small fraction of the rewards or even losing the opportunity to receive any rewards, thereby diminishing their enthusiasm to participate. At the same time, some users have also traded using multiple addresses simultaneously to obtain more compensation, bringing unfairness for other regular traders. Up to now, the implementation of profit rate mining and loss compensation mining has not significantly helped in the growth of the Equation user base. Therefore, this proposal suggests canceling both profit rate mining and loss compensation mining. Temporarily, the corresponding EQU reward allocations would be redirected to liquidity providers and Pool2 liquidity providers. The trading competition will also be discontinued, and the USDT rewards from the trading competition (25% of the protocol’s funding fee income) will be reverted to being distributed to liquidity providers as before. Finally, the EQU Mining Allocation in v3 will be:

Type	Rate
[Pools] Liquidity Providers	49%
[Pool2] EQU/ETH Liquidity Providers	40%
[EFC Member NFT] Holders	10%
[EFC Connector NFT] Holders	1%

Voting for EQUIP-10:

The vote on this proposal will begin at 12:00 UTC on July 3, 2024, and will last for two days.