After hours of discussions and listening to community feedback we have updated the proposal for XVS rewards increase. This update comes with a very important change in the fact that there will be a 275k XVS borrow cap (possibly to be followed by removing XVS borrowing completely in future proposal). This will reduce the possibility of voting manipulation and also increase the demand for XVS to acquire the higher APY % for supplying XVS. This change will also allow easier vXVS voting implementation as there will be no manipulation possible and you will have to actually buy and own XVS to vote.
This proposal is in line with current parameter restrictions and The impact on other assets including VAI should be minimal and can be updated in future proposals as needed.
Looks great to me. Deka’s last point is very important, this proposal is in line with current parameter restrictions. A different model ($-value based distribution for instance) would not be compatible with VIP-4. That means while it can be done, it would require weeks.
As a starting point, Deka’s model is excellent; we can launch this, giving huge rewards to XVS hodlers, discourage them from borrowing it, and then take some time to update the model further if needed in the future.
This a strong proposal. Creates a desire to buy and supply xvs and no borrowing on xvs means less manipulation. Pleasantly surprised by the staking amount
I already thought the first draft-idea that you put out earlier in regards to the XVS rewards was good, but now with removing it completely from borrowing it is even better in my opinion.
Guys! Thanks for the effort, please allow me to share my thoughts.
I think this is a great step towards a strong community governce and it fits perfectly with our current situation. As recent as the protocol is this proposal ensures more security and more incentives for early adopters, which is essential IMO. At our stage and current volume, we need to protect the protocol from big outside players who don’t care about the future of the platform and may harm us at this point. Removing XVS from the borrowing side and increasing XVS supply APY, I believe, can handle the issue with great chances of success. This model is exactly what we need IMO. I’m in favor. In the future, we can update it as demanded.
It seems to me that this XVS rewards proposal will benefit the Venus community tremendously. Eliminating XVS borrowing is a strong proposal that will undoubtedly lead to less voter manipulation and increased Demand for the token. Both of which, are very important for the continued success of the Venus ecosystem.
Thank you for all the hard work involved in making this proposal.
Hi Deka,Ron.N and the team members,
This is the great step toward the XVS/platform success and I fully support this initiative. I’m an early investor and xvs lover. Lets make this effort successful and go to the ‘Venus’ in real together. Congrats for putting your time and efforts!!!
Regards
I know a lot of hours went into the discussion of how this should be handled, and I think this is the best way to do it. I appreciate all the time you took to come up with it (and also anyone else who may have helped!).
This makes me happy that I’ve supplied my xvs and thrilled that it will be rewarded in the future. Bonus points for heavily discouraging manipulation
This looks great! I know it’s a concern that suppliers of other coins may exit, but if price of XVS increases (as it should after this proposal), so do the value of their distribution.
