Deposit rates adjustment #1

Let's adjust the rate for new deposits to the MijaniDao Treasury.

1. Make the deposit rate relevant to the current THJ NFTs market prices.
2. Cut MIJANI received per new deposit by 10%.

WHY?

Since the launch of MijaniDao, the prices of HC and HJs have significantly changed.

According to the last treasury report, the current backing is 0.1334 ETH per MIJANI. By making the deposit rate equal to the current backing rate, we achieve parity: no dilution to existing MIJANI holders and equal benefits to new depositors.

The current deposit rates are:

• 1 MIJANI per 0.1 ETH deposit — ETH depositing is currently penalized. • 1 MIJANI per 1.449 HC deposit — while 1.449 HC currently costs ~0.193 ETH, HC depositing is heavily penalized. • 1 MIJANI per 0.9285 HJ (both gens) — while 0.9285 HJ currently costs ~0.076 ETH, HJ depositing is heavily incentivized.

Current fair MIJANI per deposit rates are: • 1 ETH = 7.496 MIJANI • 1 HC = 1.2294 MIJANI • 1 HJ1 = 0.6162 MIJANI • 1 HJ2 = 0.6162 MIJANI

Furthermore, I think old MijaniDao depositors should be rewarded as OGs. The new depositors to the MijaniDao should receive 10% less than the MIJANI backing value.

MY PROPOSAL

Adjust deposit rates to MijaniDao treasury to the following:

• 1 ETH = 6.7464 MIJANI • 1 HC = 1.1065 MIJANI • 1 HJ1 = 0.5546 MIJANI • 1 HJ2 = 0.5545 MIJANI