Half of the current round (SHANG) of liquidity mining has been carried out. It is time for us to discuss the next round.
The next round is named after the ZHOU(周) Dynasty (about 1046 B.C. ~ 256 B.C.)
We will launch a light-weight on-chain voting system to make governance decisions. The process is as follows:
- The community members discuss and give proposals on the forum, especially follow this post.
- The team adds those proposals to the voting system.
- The community members vote on the system. The team and foundation will try not to vote on the proposals on liquidity mining.
- The team executes the voting results.
I call on the community to discuss the following issues:
- How long should the next round Shang last? still two weeks?
- How many MCB should be released in the round ZHOU?
- Who should we incentivize? What’s the portion?
- Perpetual AMM liquidity providers (currently 1.5MCB/Block)
- Uniswap MCB/ETH pool liquidity providers (currently 0.5MCB/Block)
- Traders of Perpetual?
- MCB staking holders?
- Make the AMM rewards correlative to the MCB/ETH LPs and holding
- The more MCB the AMM farmer holds, the more mining rewards he gets
- Should the mining reward have a vesting period? If so, how long?
I am glad to share some of my thoughts on these issues. Note: These are only my own opinions, not final decisions. The decisions should be made by voting!
- Some of the new mining rules, such as vesting, cost the team time to upgrade the mining system. So if the community decides to use those new rules, we should expand the time of Round Shang.
- Because we will launch the eUSD system at the end of August and maybe there will be a Curve pool for eUSD, which should be incentivized by MCB, we should keep round ZHOU two weeks for flexible.
- The supply is not big in the first several months, and we should continue 2MCB/Block to reward our early members in the community.
- Uniswap MCB/ETH has fair good liquidity (about $2M) and the LPs of this pool is the MCB holders, we should keep 0.5MCB/Block for this pool.
- We should continue to reward Perpetual AMM liquidity providers. Because we will have some new Perpetual contracts, such as LINK, MKR, COMP, SNX and so on, we should keep the 1.5MCB/Block for all the pools’ LPs.
- As we should incentivize the long-term holders, maybe we should introduce the vesting period to the Perpetual AMM rewards OR “The more MCB the AMM farmer holds, the more mining rewards he gets”. Because the first rule makes all the LPs vesting while the second rule gives MCB holders more rewards, I prefer the second one.