Parameter Adjustment Announcement: Increase Funding Rate by 20% for ETH and BTC Market

Due to the current market situation, the position ratio of AMM is relatively high, leading to higher risk exposure of LPs. To control the risk level of LPs, we’ve decided to adjust the parametrer - funding rate factor (γ).

Aplicable pools:

Funding Rate Factor (γ) has been modified from 1.0% to 1.2%.

Please notice that the adjustments will lead to a 20% increase of the funding rate when AMM position ratio is the same.

Are you conducting any change without any data support? No proposal, no rule no criteria, and no vote? Pls provide the txid of those actions.

I’m worried about who the real traders come into your platform. I totally wait for the MCB unstake and leave quietly.

Can you define/clarify what’s the current market situation? How do you define position ratio of AMM as relatively high? How do you know that will definitely lead to risk, instead of making money for LP? The community/DAO never give right to your team to do those judgements.

Per governance, I suggest the team to check the open source project indexed.finance. As you know they are dealing with the “code is law” and the hacking of ~$16M. They had a very good governance since the start in last Dec., so many proposals, opinions, data, discussions, vote and consensus. so pls refer to https://forum.indexed.finance/

Both BUSD pool and the individual Perps affected, BTC-BUSD, ETH-BUSD are operated by Mcdex DAO, not Mcdex Team. Your team is acting like an authoritarian boy ruling the DAO to your own liking.

Where is the discussion and governance voting for this overnight changes? How is the DAO community consulted? Where is community consensus regarding the changes?

Let’s see how your CM, and ‘loyalists’ in tg @meusyo alike, can whitewash for you this time.

[edit] Oh right, I almost forgot that “code is law” your team was sticking to, when changes were not in your favor.

dao1

dao2

team has adopted doing things china way. Let me unstake and dump my stake pls

Operator has the right to change the risk parametres according to the white paper.

you are wrong. The operator has shifted some rights to the foundation to adjust some changes. Proposal 37: Launch BUSD Pool operated by MCDEX DAO on BSC

Please read the proposal. It’s already clearly stated in it.

That’s okay. I don’t care to reread the white paper. If what you said is true, technically, I doubt that’s a good balance among the operators, traders, mcb holders, as operators can do evils without any restrict.

On the other hand, LJ said foundation as operator and is authorized by DAO. That DAO is factly centralized, my point.

Lastly, I doubt your team has technical spokesman. TC just do announcement post, never did a reply/explanation response to any question.