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unFederal ReserveunFederal Reserveby0xFc633b4776ecc6299eFb597A9C6cfCFbA20Ba398unersdl.eth

June 475mn max cap plan or Lower max cap plan?

Voting ended almost 5 years agoSucceeded

As per the following article, a timeframe of June and an amount (475,000,000) of tokens were set as the maximum token supply limit and the general timing:

See Also: https://unfederalreserve.medium.com/unfederalreserve-announces-june-timeframe-for-475mn-ersdl-token-supply-cap-b4a76b0583e9

The token follows the Sushi® model, which means an incremental reduction of rewards is put in place until the maxcap is reached.

See Also: https://forum.sushiswapclassic.org/t/schedule-to-reduce-sushi-block-to-meet-250m-max-target/419The alternative plan is posted here in Section 9 of this posting:

"LP Staking Reward Reduction at app.unfederalreserve.com"

An alternative plan, as outlined in the latest article below, would allow us to still put a max cap in place by June but at a much lower token cap amount. This would increase scarcity of the token.

There would be no other impact to the project outside a lower amount of total outstanding tokens.

See Also: https://unfederalreserve.medium.com/unfederalreserve-reserve-lending-apy-guidance-and-the-second-key-courtesy-efficiency-bc7ed5c02808

We will still be following the Sushi model described above in this plan.

Please select one of the following:

Off-Chain Vote

Keep the June 475mn max cap plan
3.21M 4.4%
Engage the Lower max cap plan
69.42M 95.6%
Download mobile app to vote

Timeline

Apr 30, 2021Proposal created
Apr 30, 2021Proposal vote started
May 02, 2021Proposal vote ended
Oct 26, 2023Proposal updated