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Kalmy.APPKalmy.APPby0x8b8dA69Ea24252a8B8a46014a3a6c34F998665660x8b8d…6566

A new KALM emissions reduction proposal.

Voting ended almost 3 years agoSucceeded

As a constant effort to balance incentivizing products with competitive APYs and limit farm "freeriders", we currently propose following KALM daily emissions cuts.

NFT Wars: 475 (-25) -> 450

Reasoning: slight reduction within the general logic.

All LPs: 1150 (-200) -> 950

Reasoning: moderate reduction to incentivize "smarter" voting on auto-compound vaults.

Single Stake BNB/FTM/AVAX: 240/240/240 (-10/-50/-50) -> 230/190/190

Reasoning: BNB – slight reduction within the general logic; FTM and AVAX – moderate reduction to reflect less DAU on those chains.

Lend BNB: 35 (-5) -> 30 Lend BUSD 75 (*when resumed -25) -> 50; currently on pause with 0

Reasoning: leveled reductions to further move towards "real yield" (borrowing fees).

Borrow BNB (leveraged farms): 100 (-50) -> 50 Borrow BUSD 100 (*when resumed -50) -> 50; currently 0

Reasoning: moderate reductions to further incentivize farmed assets shorting vs KALM farming.

*Note: both leveraged yield farming sections are eventually to be switched to vote based rewards like in current LP Wars.

Unsold bonds: burn half, recycle another half to treasury for future rewards.

Reasoning: to slow down the long time mining reserves burn while keeping the same numbers of bonds to purchase available.

General bonds: keeping the same numbers and removing FTM bonds.

Reasoning: current numbers accommodate the needs well; FTM bonds were not purchased within several weeks.

Total change for the emissions cuts round proposed: -465 kalm/day.

The vote is passed if "Yes" gets 50.1%+ of the votes. An adjusted vote to follow up based on the distribution of "No" responses.

Off-Chain Vote

Yes
9.32M veKALM99%
No (NFT Wars)
0 veKALM0%
No (LP Wars)
2.44K veKALM0%
No (KALM Staking)
3.52K veKALM0%
No (Lending)
0 veKALM0%
No (Borrowing)
0 veKALM0%
No (Bonds 50% burn)
0 veKALM0%
No (FTM bonds)
0 veKALM0%
No (2+ reasons)
91.93K veKALM1%
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Timeline

May 24, 2023Proposal created
May 24, 2023Proposal vote started
May 30, 2023Proposal vote ended
Oct 26, 2023Proposal updated