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FraxFraxby0x38F2944e482a050942E5fb1652Af4690017cd1410x38F2…d141

Update veFXS boost to catch up with rising FXS price

Voting ended over 4 years agoSucceeded

With the rising FXS price it becomes ever harder to enable a full farming boost.

With the current FXS price at 5$ people are required to lock up 5$ value for 4 years in order to boost 2$ worth of LP. This asymmetrical ratio will only increase with further growth of the FXS price.

As this continues people will be less inclined to buy and/or lockup FXS (Risk/Reward is simply not worth it anymore).

My proposal is to adjust this ratio to decrease the current asymmetry.

I have sketched out a couple scenarios at the current FXS price of 5$:

3veFXS per 1 FRAX = 5$ locked up for 4 years boosts 2.66$ worth of LP.

2.5veFXS per 1 FRAX = 5$ locked up for 4 years boosts 3.2$ worth of LP.

2veFXS per 1 FRAX = 5$ locked up for 4 years boosts 4$ worth of LP.

We can eventually find a way for this to be automatically adjusted in accordance with the fluctuating FXS price.

Off-Chain Vote

Do nothing = 4veFXS per 1 FRAX
5.29M 75.7%
Change to 3veFXS per 1 FRAX
1.52K 0%
Change to 2.5 veFXS per 1 FRAX
1.28K 0%
Change to 2 veFXS per 1 FRAX
1.7M 24.3%
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Timeline

Sep 17, 2021Proposal created
Sep 17, 2021Proposal vote started
Sep 24, 2021Proposal vote ended
Oct 26, 2023Proposal updated