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Voltage FinanceVoltage Financeby0xD053a14B5e893D8D9E98A9F5A54E51bff30eDb840xD053…Db84

VIP-2: Fuse Ecosystem Round funds usage

Voting ended almost 4 years agoSucceeded

This proposal is created by the Core Voltage Team regarding the tokens collected via the Fuse Ecosystem Round that took place on March 8th, 2022. The event was an amazing success seeing that we collected 2,784,226 $FUSE tokens which = ~$1.06 Million USD.

We surveyed the community with a poll of three strategies for what to do with the collected $FUSE tokens and Strategy 2 was selected via the poll. You can read the original proposal with all 3 options at https://forum.voltage.finance/t/strategies-for-funds-raised-during-voltage-ecosystem-round/73.

Strategy 2 reads as the following: 10% of the $FUSE tokens collected will go to an incentivized single-staking pool (stake xVolt for Fuse rewards) 40% of the $FUSE tokens collected will be burned 50% of the $FUSE tokens collected will be used as rewards to incentivize adding liquidity to multiple pools selected by the team After reviewing the selection, the Voltage team wanted to convey how we will go about implementing. Instead of simply throwing 10% of the funds raised during the Fuse Ecosystem Round into the xVOLT staking pool, we will set up a Voltage validator that sends all rewards to the address designated for xVOLT staking rewards. The FUSE network requires 100,000 FUSE to set up a validator. 10% of the total FUSE collected is = 278,422.6. So after setting up a validator the remaining 178,422.6 FUSE will be used as rewards for xVOLT stakers.

The more people we have move their dedicated FUSE to the Voltage Finance validator, the higher the APY they'd receive for staking their xVOLT for Fuse rewards. This makes the emission schedule much more sustainable with the possibility of exponential growth as the FUSE network continues to build.

For further elaboration on the last piece to Strategy 2, we wanted to announce which Farms we will add/bring back.

fUSD-BNB WFUSE-USDC WFUSE-BUSD WFUSE-WETH WFUSE-fUSD WFUSE-aUST WFUSE-G$

Those in favor of this finalized proposal will need to vote YES. The snapshot will be taken upon posting this proposal and the vote will last for 12 hours. We plan to start implementing 1st thing Monday morning assuming the proposal is passed.

Off-Chain Vote

For
11.64M 100%
Against
8.89 0%
Abstain
0 0%
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Timeline

Mar 13, 2022Proposal created
Mar 13, 2022Proposal vote started
Mar 14, 2022Proposal vote ended
Oct 26, 2023Proposal updated