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Proposal for the Burn of 359M DEP in the Depth Liquidity Mining Reserve Pool
Dear Depth Community,
In order to further optimize the economic model of Depth, a public discussion on the DEP in the Depth liquidity mining reserve pool is now initiated. The community will have to vote to decide whether to permanently burn parts of DEP.
During the past operating cycles, Depth volunteers have reduced the supply of the liquidity mining DEP after comprehensively calculating and evaluating market yield rates and stablecoin supply & demand. The reduced DEP are currently kept in the Depth liquidity mining reserve pool.
As of the date of this proposal, a total of approximately 1.61 Billion DEP have been mined, of which 359 Million DEP have been kept in the Depth liquidity mining reserve pool.
If the existing DEP in the Depth liquidity mining reserve pool is permanently burnt, the total amount of DEP in circulation and maximum supply will be reduced by the same amount.
Voting rules:
Voting start time: August 26, 2021 18:00 (UTC+8)
Voting end time: August 28, 2021 18:00 (UTC+8)
How to vote: Users need to use xDEP to vote. xDEP can be obtained 1:1 by staking DEP into Depth DAO.
Minimum Quorum: The proposal should get at least 150 million xDEP to participate in voting.
Majority Vote: Passed options should receive at least 51% of the supporting votes.
Voting link:
Note: The xDEP staked for voting can only be manually withdrawn after the voting ends. Staking xDEP for voting will not affect DAO rewards claim.
Depth Core Volunteers August 26 2021
Last modified 1mo ago
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