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Lattice GatewayLattice Gatewayby0xB1846732A83E872a76302A86f98086022099140BLattice Proposal Committee

[LIP #6] Distribution schedule for Exolix fees

Voting ended over 2 years agoSucceeded

The Lattice Gateway team announced the Exolix swap fees as a new source for veLTX holders in May 2023. ( https://latticeexchange.medium.com/may-update-for-veltx-holders-7e04c839e1be ) All Exolix swap fees will be used to buy LTX which will then be distributed to veLTX holders. Until LTX becomes a L0 token we will need to have the Ethereum network fees in mind and therefore this proposal suggests to accumulate the LTX for a certain duration to decrease the overall claiming fees.

The idea of the proposal is to accumulate the bought LTX over a certain duration to decrease the respective claiming fees for all veLTX holders and thus increase the overall received rewards. Lattice Gateway can also add the accumulated LTX to existing reward distribution schedules of LTX rewards (e.g. the quarterly or yearly voting rewards) to reduce the fees even more.

There will be three different choices for the voting which will take 7 days.

  1. Distribution every 3 months
  2. Distribution every 6 months
  3. Distribution every 12 months

Off-Chain Vote

Distribution every 3 months
12.96M veLTX83%
Distribution every 6 months
616.52K veLTX3.9%
Distribution every 12 months
2.04M veLTX13.1%
Quorum:198%
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Discussion

Lattice Gateway[LIP #6] Distribution schedule for Exolix fees

Timeline

Jul 03, 2023Proposal created
Jul 07, 2023Proposal vote started
Jul 14, 2023Proposal vote ended
Mar 20, 2026Proposal updated