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Voltage FinanceVoltage Financeby0xF2E8816F99d4822307Eebf9A370c1af1fD260e690xF2E8…0e69

Burn a % of the Volt bought back from DEX fees

Voting ended over 3 years agoSucceeded

Burn a % of the Volt bought back from DEX fees.

As per the discussion It is proposed that there is a change to the current DEX fee usage. https://forum.voltage.finance/t/burn-a-of-the-volt-bought-back-from-dex-fees/164/29

The current usage is:

  1. 0.25% to LP providers
  2. 0.05% used as buy back of Volt from the market and distribute to Volt stakers.

The proposed usage is:

  1. 0.2% to LP providers
  2. 0.1% used as buy back of Volt from the market. 0.05% will be burnt, 0.05% distributed to Volt stakers as it currently is.

The effect being:

  1. LP providers get 0.05% less fees Please Note: This is NOT farming rewards, but DEX fees. The vast majority of benefit from LP provision comes from Farming rewards and these are NOT affected by this proposal.

  2. Volt stakers retain the same APR value as current. There is no change to the APR amount or calculation of Volt/xVolt staking.

  3. A small % of Volt is burnt making the token deflationary based on DEX usage. This is highly important. Just as ETH has implemented EIP1559 burning ETH based on usage, so Voltage will be the first DEX Governance token to burn tokens based on DEX usage. This should have the effect of incentivising DEX usage, strengthening the Volt price and encouraging Hodling for the long term.

This change is NOT permanent, and can be changed should future tokenomics require it and the community vote for that change.

Off-Chain Vote

For
12.91M VOLT100%
Against
0 VOLT0%
Abstain
0 VOLT0%
Quorum:129%
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Discussion

Voltage FinanceBurn a % of the Volt bought back from DEX fees

Timeline

Jun 09, 2022Proposal created
Jun 11, 2022Proposal vote started
Jun 12, 2022Proposal vote ended
Oct 26, 2023Proposal updated