IFGV#1: Foundry Utilization Rate reduction

Voting ended almost 5 years agoSucceeded

PROPOSAL

The Utilization Rate is the percentage of excess collateral which is distributed to the Foundry in a given epoch. As part of the Foundry bootstrapping period, the current rate is set to 0.5%. At the time of writing this proposal, the Foundry APR is nearly 900%. We perceive the rate to be rather high for single-asset staking (and riskless rewards payout in BUSD) and would like to propose a reduction of the Utilization Rate to:

0.3%
0.25%
0.2%

The voting is live for 24h. The change will be implemented and go live 4 epochs after the voting ends.

Eligible voters:

STEEL holders
STEEL holders in the Foundry
STEEL-BNB LP token holders in vFarm and vSafe

We leave the option to repeat this vote in a week and revise the rate.

Off-Chain Vote

0.3%

33.72K 74.9%

0.25%

278.38 0.6%

0.2%

11.05K 24.5%

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Timeline

Mar 26, 2021Proposal created

Mar 26, 2021Proposal vote started

Mar 27, 2021Proposal vote ended

Oct 26, 2023Proposal updated