Dear VOX community,
we’re pleased to be able to share with you our plan regarding the fourth emission cut, which will happen on 15.12.2020 at 00:00 UTC.
With careful consideration and analysis of the current token economy we’ve reached the decision to lower the emission rate by 25,0 % to follow the initial token economy plan.
We’re approaching the total supply of 4.000 tokens at which we should see considerably lower circulating supply. We’ve seen daily burned amounts between 10–40 tokens in some cases and with the latest emission cut, we will be getting quite close to this amount.
While this might seem as a step back for most users due to decreasing pool rewards, it should have a positive effect on the economy long-term. The current token economy model is unfortunately not sustainable and there is constant selling pressure.
If you wish to read more about the token economy model for our native token, please read the following article: t.ly/5uxP
Additionally, we will be consolidating the rewards from the ETH/VOX and USDC/VOX into one liquidity pool on the platform at the same time.
From midnight forward, only the ETH/VOX pool will continue to receive rewards — the pool allocation will be set at 65 % for the time being, but will be lowered to 60 %/55 % as we open new vault strategies and the stablecoin swap platform. Details regarding this will be disclosed as we get closer to the release.
🔪 Fourth emission cut
As mentioned above on Tuesday, 15.12.2020, at 00:00 UTC (timestamp: 1607990400) the fourth emission cut will take place.
The following measures will be set in place:
- Mint rate will be lowered by 25,0 % from 0,0066796875 VOX per block to 0,005009765625 VOX per block. This will decrease the inflation of the total token supply.
- USDC/VOX pool will stop receiving rewards and the allocation percentage of the ETH/VOX pool will be raised to 65 % for the time being.
This measure will come into immediate effect once executed after the above timestamp has been reached.
About Vox Finance
“Vox Finance is a decentralized finance (DeFi) project developed by an independent team of developers, seeking to bring an innovative approach to the new emerging market by providing high-quality and profitable services while relying on the voice of the people to bring in community engagement to the underlying protocol.”