The first XBE protocol proposal is out! Join the discussion in our AMA on Tuesday 11 May 2021 at 14:00 UTC on our official telegram.
The first XBE Improvement Proposal: Protocol Rewards, Fees and Liquidity Upgrade has just been released! Read it on our governance forums here right now.
To answer the (what we are sure to be) many questions around this new proposal, the founding team will run an AMA on our official telegram channel this Tuesday 11 May 2021 at 14h00 UTC time.
This new proposal by the founding team introduces several protocol revenue streams to create long-term sustainability, but in order to kick-start the process and attract sufficient liquidity for xbEURO and XBE pools we need to pay out attractive rewards, and we believe that is best done by increasing the supply of XBE from 15,000 to 40,000 over a period of 2 years and using the majority of this to pay the rewards.
We have listened carefully to the concerns the community raised about ideas like this however, and have worked very hard to ensure that there is more than enough compensation for holders through the new mechanics in the proposal.
For example, if you stake your XBE without lock-up you are likely to end up with enough XBE in rewards that your share of total XBE will be similar in 2 years as to what it is now, and if you lock-up your staked XBE (remember you don’t HAVE to lock-up staked XBE) then you will end up with an even larger proportional share.
Furthermore the proposal ensures we attract deep liquidity to our protocol stablecoin so we can offer holders of off-chain securities a practical entry point into DeFi with real liquidity and utility.
At the same time, the model ensures that we effectively manage token sell pressure and that there is proper incentives for new users to become XBE holders – which will benefit the whole community.
We look forward to any and all questions and comments from XBE holders over the course of the next few days, so please post them in our official telegram channel for attention to the admins. We will collect them and then answer the best questions in our AMA on Tuesday, and hopefully have some open / free question time as well!
Look forward to your questions, comments and ideas!
Speak to you all soon in the AMA!