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Internet TokenInternet Tokenby0x61d5F119776b5E20D500E7cb705000A5Ab8968C70x61d5…68C7

Pause INT/GMX Bonds temporarily

Voting ended over 1 year agoSucceeded

We have noticed that bond sales mostly been utilized by few folks and mostly been arbitrage activity by existing long term INT holders. It has been creating a 1.5m worth of INT being sold every week.

Current bond program is a bit technical only few savvy folks are able to use this functionality and that too not many new potential INT investors. This has been creating a negative cycle on INT price.

Recommendation is to pause Bonds for now while we figure out some of the following options/milestones

  • Simplify bonding and bridging process so even non-technical folks can perform it easily
  • Add some kind of vesting program on Base once you redeem bonds, so INT is not immediately available, this should help to make it unattractive for folks who are doing pure arb but still be attractive for medium to long term investors
  • Make additional changes to core contracts to improve the lottery mechanism with Referral functionality or Rolling Bumper Prize etc
  • Increase visibility and have successful marketing for both INT and Bonding program for potential investors. More competition for bonding will make the discount manageable.

This is a sentiment vote from the community before taking to the official vote through Tally to take on-chain action around this.

Off-Chain Vote

Pause Bonding
8.16M VP100%
No Change
0 VP0%
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Timeline

Jul 30, 2024Proposal created
Jul 30, 2024Proposal vote started
Aug 02, 2024Proposal vote ended
Aug 02, 2024Proposal updated