Rewards, Protocol Fees and Liquidity Upgrade

This proposal also appears on XBE finance's forum in significantly more detail. https://gov.xbe.finance/t/rewards-protocol-fees-and-liquidity-upgrade/82

Proposed by the XBE team

Summary:

The XBE team’s first submission to the community is a substantial XBE Improvement Proposal to create sustainable self-sufficiency for the protocol in terms of revenues, yield, and deep liquidity for both the protocol stablecoin and governance token, in answering the challenges raised in this recent post.

Abstract:

The recently announced xbEURO stablecoin allows the protocol to focus efforts on developing deep liquidity for a single stablecoin, irrespective of the number of different types of registered securities or off-chain value and assets that are tokenised as reserves (ESAT, EBND) from which various inflationary stablecoins with different rates and terms [EURx(n)] can be issued.
This allows the protocol to treat liquidity against the xbEURO as a strategic asset, which attracts more off-chain opportunities – and then profit from each issuance as the respective inflationary stablecoins are bridged for xbEURO to access DeFi liquidity. This proposal expands the protocol substantially by including some of the most important cutting edge DeFi developments and integrating these concepts (and open-sourced code) into the core of the protocol where relevant. Such include elements from MakerDAO to introduce a protocol revenue stream similar to the DAI savings rate (DSR), the brilliant Alchemix concept that capitalizes future interests on tokens, and the DAO model from CRV – including boost, voting tokens, gauges, and rewards.

Motivation:

By introducing a base protocol fee, we can ensure sustainability of the protocol itself with the goal of being an open protocol for anyone to issue accepted securities on chain, and in turn apply those tokenized securities to yield strategies. We also aim to distribute XBE even further to ensure its sufficiently decentralized. This allows us to simultaneously distribute the protocol but also apply additional yield to remain competitive in this fast-evolving market.

Commitments:

The founding team will fund the entire development, deployment, and hosting (front end items) of this proposal at their expense. It will further provide additional support to the maintenance of the network. The founding team will further pay for audits of the developed code.

Specification:

xbEURO is a non-inflationary ERC20 token. XBE is a non-inflationary ERC20 token.
Github - TBD Contract address - TBD

Useful links: Application: https://app.eurxb.finance Website: https://EURxb.finance Position Paper: https://EURxb.finance/position-paper (PDF at https://downloads.eurxb.finance/EurxbPositionPaper.pdf) Youtube Channel : https://www.youtube.com/channel/UCJyDXiVYn-2PBFu9ssssPKA (EURxb overview, and EURxb Reserves Explainers) Github: https://github.com/EURxbfinance Proof Of Bond Reserve ISIN: https://eurxb.finance/partners/miris-senior-secured-green-bond/executive-summary and https://www.no0010912843.no/

ELI5:

Add protocol minting fee paid as protocol rewards. Introduce xbEURO token (The xbEURO is a non-inflationary stablecoin that allows holders of our inflationary stablecoins - currently the EURxb, with more to come in future - to lock-up their tokens for the full interest term). Mint fixed amount of XBE. Provide mechanism for current XBE holders to maintain current % of protocol without buying more (lockup rewards). Locked up XBE allows users to boost their rewards. XBE minted in 3 ways: to locked up XBE, to XBE stakers and to LPs. Major upgrades leading protocol to complete self sufficiency. Special thanks to Curve.fi.