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Ruler ProtocolRuler Protocolby0x699F7DE9a0E3AD46d492be93f17492DF3B4476180x699F…7618

Square reward multiplier.

Voting ended over 4 years agoSucceeded

As you all might know we are constantly improving the reward system on the CoverRules web-site. As a team we do believe that we accomplished the goal of the first month and attracted liquidity to the books. Our next step is to ensure that existing liquidity rests at a reasonable APR for our lenders and borrowers. In the coming weeks we will be introducing multiple new modifications to the current reward calculation formula but we would want to start from squaring the multiplier. As of right now our formula for the multiplier looks like this:

Old Formula

If this vote passes the formula will be squared like following:

New Formula

This will result in orders having to be much closer to the market price in order to obtain a good multiplier. We believe this will result in an improved rates on our platform. This will also allow users who provide liquidity close to a market price earn even more rewards.

Options:

  1. Square Multiplier
  2. Do Nothing

Off-Chain Vote

Square Multiplier
8.48K 100%
Do Nothing
0 0%
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Timeline

Aug 06, 2021Proposal created
Aug 06, 2021Proposal vote started
Aug 09, 2021Proposal vote ended
Oct 26, 2023Proposal updated