Dear VOX community,
we’re pleased to be able to share with you our plan regarding the second emission cut, that will happen on 15.11.2020 at 23:59 UTC.
With careful consideration and analysis of the current token economy we’ve reached the decision to lower the emission rate by a minimum amount this week and to reduce the burn rate back to 2,0 % as we’ve seen the higher burn rate was a big entry barrier for new investors.
Even though these measures will only limit the inflationary properties by a small margin, we’ve jumped ahead of our ideal token distribution curve as presented in our token economy model. Read more: t.ly/5uxP
This means we’re still perfectly on track to a maximum supply of 4250 tokens by March 2021.
🔪 Second emission cut
As mentioned above on Sunday, 15.11.2020, at 23:59 UTC (timestamp: 1605484799) the second emission cut will take place.
The following measures will be set in place:
- Burn rate will be set to 2,0 %. This will help to keep the circulating supply low and incentivize people to stake the token. Additionally, it will have a deflationary effect on the economy. It has been lowered by 1 percentage point due to the higher burn rate being an entry barrier for new investors.
- Mint rate will be lowered by 5,0 % from 0,009375 VOX per block to 0,00890625 VOX per block. This will decrease the inflation of the total token supply, while still reward our early supporters to keep staking and providing liquidity on Uniswap.
These two measures 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.”