TIP26 - Change the buyback mechanism (LON 回购机制调整)

Background

• Tokenlon’s network fees are bought back and distributed to the treasury and staking pool. Furthermore, for every LON bought back, one LON will be minted and distributed to the trade mining reward pool
• Any community member can trigger a buyback and distribute the rewards to the treasury, staking pool and trade mining reward pool
• However, due to high gas fees on the Ethereum network, much fewer users have triggered a buyback
• This has led to the three pools receiving fewer rewards in the short term
• We want to increase the buyback amount and reduce spending on gas fees

What we propose- To carry out buyback only under these conditions

• Change buyback period from 1 day to 3 days
• Limit slippage tolerance to 3%
• Limit maximum buyback amount to $100,000
• Make buyback based on transaction fees at any point in time

Goal Of Proposal

Change the buyback mechanism to improve the user experience and for LON holders to receive rewards quicker

Proposed Action Items

Implement after the voting result is out, the exact time of launch will depend on the preparation

Voting Rules

• Addresses with more than 0 LON or xLON can vote
• Addresses currently participating in LON liquidity mining or holding the respective LP tokens can vote (including unclaimed LON reward)
• Voting start time: 2021.12.1 12:30 pm UTC+8
• Voting end time: 2021.12.3 12:30 pm UTC+8

Voting Options

A. Increase minimum buyback amount based on conditions stated above B. Maintain current buyback mechanism (no change)

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背景

• 根据 LON 经济模型设计，LON 每次回购会 1:1 触发铸币，用于奖励交易挖矿的用户、做市商等 Tokenlon 生态各贡献者
• 回购的代币按 4:6 的分配比例，进入到财库和用于 LON 质押奖励
• 由于 Tokenlon 所在的以太坊一层网络交易成本高，导致社区点击 LON 回购不积极，导致回购频率下滑，回购数量较同期减少。
• 回购数量少会导致交易挖矿奖池规模变小，同时也会影响到 LON 质押的奖励
• 核心团队会不定期对成功发起 LON 回购的社区用户进行矿工费补贴，已进行了三次补贴

核心团队提议按以下规则来配置代币回购参数

• 回购频次由 1 天一次改为 3 天一次
• 回购滑点限制在 3% 以下
• 最大单次回购额度 $100,000
• 依据捕获手续费中沉淀额度，来决定单币回购数量

目的

希望由社区治理，决定后续的 LON 回购机制的优化方向

投票执行项

根据投票结果，调整 LON 回购机制，具体生效日期请关注官方公告

投票规则

• 持有 LON、xLON 或 LON LP token 的钱包地址均能参与投票（包含未认领的 LON 奖励）
• 治理投票开启时间：2021.12.1 12:30 pm UTC+8
• 治理投票结束时间：2021.12.3 12:30 pm UTC+8

投票选项

• A. 提升单次 LON 回购额度，回购周期视情况弹性调整
• B. 回购机制不变，保持现状