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FortuneCronosFortuneCronosby0x11051565f904f31795F9A6fB4756E99223fAAd6F0x1105…Ad6F

FIP003: Restart bonds with increased vesting

Voting ended about 4 years agoSucceeded

This proposal is to decide on whether we should restart bonds with an increased variable vesting period.

Motivation Previously as we traded low near our backing price, we raised minimum bond price to $100.
 We did so as to protect our stakers as this helps supports price in 2 ways:
 1️⃣ Shutting off bonding reduces dilution of FORT via minting
 2️⃣ People will need to market buy FORT to join staking, helping drive market price up


However, in doing so, while price has remained supported, we have no revenue to our treasury as it is not attractive to bond.
To support our next phase of development, we anticipate the need for our treasury to grow.
 Hence, we are proposing to remove the minimum and bring bond discounts back to a positive value. To combat the dilution from this, we will increase vesting period with different variation.

Quorum Standards The option with at least 30% of the votes will then be adopted.

Options

  • Do not adjust bond discounts
  • (Option 2 - 4) Bring bond discounts back to positive with fixed vesting period (5 days or 15 days or 30 days)
  • (Option 5) Bring bond discounts back to positive with variable vesting period e.g. 5% discount for 5 days, 10% discount for 15 days, 20% discount for 30 days

Off-Chain Vote

Do not adjust bond discounts
169.02 8.3%
Discounts with 5 days vesting
10.79 0.5%
Discounts with 15 days vesting
44.03 2.2%
Discounts with 30 days vesting
20.19 1%
Discount based on vesting
1.8K 88%
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Timeline

Dec 30, 2021Proposal created
Dec 30, 2021Proposal vote started
Jan 02, 2022Proposal vote ended
Oct 26, 2023Proposal updated