VIP-133 Enable Tokenomics v3. 1 and Allocate Legacy XVS Rewards to the XVS Vault. Summary.

26 Jun 2023, 16:03

VIP-133 Enable Tokenomics v3.1 and Allocate Legacy XVS Rewards to the XVS Vault Summary This VIP has for objective the ratification of the previous Snapshot vote: Venus Protocol Proposal: Update to Venus Protocol Tokenomics (3.1) and if passed, it will also allocate legacy XVS market rewards to the XVS Vault Rewards smart contract. Description It has been approximately one year since the last revision to Venus Tokenomics and given the continuing evolution of the market, Venus has re-evaluated and suggested an optimal distribution of income given the protocol’s current and future needs that was voted and agreed to by the community. Also, In preparation for our new Quarterly Buyback and Tokenomics allocation, this VIP Proposal will allocate legacy XVS market rewards to the XVS Vault in accordance with the new Tokenomics. The last legacy XVS rewards allocation was made in the early months of 2022 with VIP-91 for a period of 6 months hence, the necessity to top-up the Vault Rewards for another 6 months period. June 30, 2023 to December 31, 2023 = 184 Days. This VIP will allocate 184 x 1050 = 193,200 XVS to the vault rewards distribution contract. Conclusion The proposed revisions in Venus Protocol Tokenomics are expected to yield positive results for the Venus ecosystem, ensuring a fairer distribution of income and enhancing the platform’s sustainability. Vote & additional Details 👉🏻