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Ruler ProtocolRuler Protocolby0x3e677718f8665A40AC0AB044D8c008b55f277c980x3e67…7c98

Authorize RULER rewards on BSC

Voting ended almost 5 years agoSucceeded

Ruler is in preparation to expand to Binance Smart Chain. Doing so will significantly reduce the gas costs associated with using Ruler (average tx cost on BSC < $1) and increase our user base, thus helping us grow faster. We are very excited, as BSC offers a great multitude of projects, vibrant communities and ever growing count of accounts.

As we prepare for the expansion we have a few important decisions to make. One being whether we need to bridge $RULER to BSC.

As we expand to the new chain, we need to come up with the ways to incentivize our users to provide liquidity. While we work hard with our partners to come up with an incentive plan that would not include the emission of $RULER, we are not necessarily convinced this would be enough. We suspect that it would be hard to provide many collaterals and sustain deep enough liquidity pools without an incentive from the Ruler.

Specifications: The presented options would grant us the ability to spend up to the specified amount of $RULER token on Binance Smart Chain over the span of 3 months. Only select list of collaterals would be incentivized by $RULER as well as the amount would be determined on a case by case basis

Off-Chain Vote

No RULER rewards on BSC
114.51 1.1%
Spend up to 1000 RULER rewards
796.18 7.5%
Spend up to 5000 RULER rewards
1.48K 14%
Spend up to 10000 RULER rewards
8.23K 77.5%
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Timeline

Apr 27, 2021Proposal created
Apr 27, 2021Proposal vote started
Apr 29, 2021Proposal vote ended
Oct 26, 2023Proposal updated