How come the proposal made was not in the accordance to the discussion in the forum? According to the proposal and agreed by all the community, the % rewards are changed and new XVS borrowing % is 0 but then upon implementation now the APY is 233%? Are we wishing for a massive dump?
We need to really flag this!!!
Expecting that there are whales holding massive amounts of XVS, then they can just sell the XVS rewards and create a snow ball into a massive dump. Furthermore, we also run the risk of not implementing beneficial changes to the protocol according to the community discussion as whales will be gaining significant market share and decline any changes that goes against their interest!!!
We don´t want to become centralized. This is a topic that is already being talked outside of the forum, so in the benefit of the community to be rectified ASAP.
Hey mate. You are right 100%. I don’t think that the VIP-8 proposal has been executed (settings applied) yet. It’s still showing as Queued and will be available to be executed from tonight at 7.27pm.
Hi Daniel, I hope that´s the case otherwise is a very bad sign - as it is still not fixed. I´m grateful for the work done so far and of course all of us are taking some good profit but if the wrong message is sent to the community, fast the FUD will come.
Honestly, I think a bit of FUD is needed to cut off the money supply. Venus Protocol has been corrupted, and the community needs to correct this asap so as to limit risk exposure to new investors.
Is it any explanationg why the proposal that just got accepted if totally different from what It’s been showing the table from the original post in this thread ?
I dont get why borrowing the governance token should give 240%… it’s absurd and look like a scam from the outside. I’m really interested in the project but this one thing make me want to wait at the moment…
We need to push for code changing so that 100% of reward can be distributed to XVS supply. It does need a cap & there should be no incentive to borrow XVS.
Things like this happen when the platform isn’t really decentralized. Just know what you are getting yourself into. Going up against binance is a losing battle…
All right guys, Should we start a new topic to bring the attention to this? that we want 0% borrow APY on XVS? This cannot continue, at least without being discussed correctly.
I agree. Let´s create a new topic just focused on the XVS borrow APY. If it get´s no attention from moderators then up to everyone to decide how they wish to proceed with their holdings.
For the sake of the new topic I encourage everyone to comment or express their concerns in there.
I will post the link to this topic after the creation of it.
Hi @Dekaanra , I thought you would be part of the development team as mod - as most seem to be.
In any case, good to hear that you as the author of the original proposal, are not part of the final decision to deceive the community.
The radio silence is worrying and even though I´m taking a great profit, I´m close to be done with the it. Such behavior is not good for the ecosystem… maybe in the short term…
Are the changes accepted? I see that the VAI staking reward is now 2,299. 99 as in the table.
What do I need to do to get 40% for holding XVS? Does it need to be transferred to the Supply Market? Or just keep it in your wallet and don’t touch it?
I suggests to steer our discussion to the new post so we have a focused discussion on the topic and also attract attention to the full issue at stake. Please feel free to provide suggestions to the summary provided in order to have a pinned post with the overall issues.
I’d prefer if the rewards were increased for Stable coin provides and the rewards reduced for Venus staking, at least to the same level of the other coins. Incentivizing Stable Coin liquidity is really important for a lending protocol and that reward can be reduced later. Venus has a whale problem, with very few whale controlling all proposals and votes and desperately needs to be decentralized, so I believe the rewards should be distributed more equally among the assets.