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SX.betSX.betby0x025b9FD9F1ed818d688e19c5F43c500bf44cEA470x025b…EA47

Change Bet Mining to 420k SX Bi-Monthly and Maker Bets-only

Voting ended about 2 years agoSucceeded

Liquidity is the most important aspect of SX, and SX's liquidity could use a boost. So we'd like to experiment with switching bet mining to reward liquidity directly instead of the current model (bet volume). In this iteration of bet mining, users would be rewarded the same way but only maker bets would count, incentivizing all users to make bet offers instead of just pure activity.

This change will be combined with making all tournaments Taker-only, which should make them far more competitive by eliminating high-volume makers from the rankings. Changing to a bi-monthly schedule (and including live updating leaderboards for bet mining) should make for a more entertaining and lively experience as well, and help with marketing/branding more as the sums are bigger.

This change - combined with cutting SX from bet mining from 300k monthly to 420,000 bi-monthly (a 30% decrease overall) - should have a positive impact on SX tokenomics, as Makers have more of an incentive to hold SX (due to fee discounts from staking) then Takers, who typically sell SX to refill their bet account, thereby eliminating a large source of selling pressure from SX as well. At 420k SX bi-monthly and our current betting volume, makers will be effectively getting a $11 rebate per $1000 of winnings i.e. a 1.1% rakeback. This is extremely attractive and should encourage both more market makers and more bettors to begin making bet offers.

Off-Chain Vote

Yes - change bet mining
21.29M WSX100%
No - status quo
0 WSX0%
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Discussion

SX.betChange Bet Mining to 420k SX Bi-Monthly and Maker Bets-only

Timeline

Feb 08, 2024Proposal created
Feb 08, 2024Proposal vote started
Feb 13, 2024Proposal vote ended
Feb 14, 2024Proposal updated