VIP 332 Quarterly XVS Buyback, Funds Allocation and New Tokenomics Summary This

Question

VIP 332 Quarterly XVS Buyback, Funds Allocation and New Tokenomics Summary This

VIP outlines the protocol’s Quarterly Buyback and Funds Allocation strategy as per our Tokenomics V3, emphasizing the following key aspects for Q2 2024:

- Protocol Reserves: $5,069,665
- Liquidation Fees: $2,558,000
- Total: $7,627,666

Tokenomic Allocations:

- XVS Buyback: 92,382 XVS ($554,296)
- Venus Prime: $506,967
- Risk Fund: $3,306,866
- Treasury: $3,051,066

*Note: All token prices and amounts will be calculated for Jun-28-2024 12:59:55 AM +UTC, block number 39992639.*

*The XVS Buyback was executed gradually over the quarter. The Venus Prime and the Risk Fund conversions were only partially executed, with over 90% of the tokens still pending conversion.*

If approved, this VIP will perform the following actions:

1. XVS Buyback Allocation: Send the 92,382 converted XVS from the XVS Vault Treasury to the XVS Store, for the new XVS vault rewards.
2. XVS Vault Base Rewards: Send 153,510 XVS from the XVS Distributor to the XVS Store for the new Base rewards allocated for the second half of 2024: 95,550 for Q3 and 57,960 for Q4.
3. Automatic Income Allocator: Adjust the contracts for the new Tokenomics V4.
4. XVS Vault Speed: Set the new XVS Vault reward speed to 1,950 daily XVS.

Context

This quarter, the automatic income allocator has distributed protocol reserves and liquidation fees according to Tokenomics V3. If approved, this VIP will update the tokenomics to Tokenomics V4, modifying the automatic income allocator to reflect the new allocations.

Additional details in VIP description

🗳 https://app.venus.io/#/governance/proposal/332?chainId=56

#blockchain #cryptocurrency #english #venus

0

28.06.2024

8 ответов

52 просмотра

Luca

Will The XVS vault reward Speed increase only on bnb chains?

0

5 месяцев назад

Dom | Venus 🇨🇿

Luca
Will The XVS vault reward Speed increase only on b...

Hello if do you mean increased allocation for buybacks following the tokenomics update, it will be applied on all blockchains.

0

5 месяцев назад

Luca

Dom | Venus 🇨🇿
Hello if do you mean increased allocation for buyb...

I mean ..... " With this, the daily emissions will increase from 1,840 XVS to 1,950 XVS, increasing the vault APY from 9.9% to an estimated 10.5%." and 1840 is BNB chain daily emission, what about other chains? Did I miss something?

0

5 месяцев назад

Devita 🇮🇩

Luca
I mean ..... " With this, the daily emissions will...

The xvs bought back from BNB Chain revenue is added to the BNB Chain vault, from what I remember, the xvs vault buybacks for Ethereum should be starting this Quarter, and therefore it will be added to the vault in Q4

0

5 месяцев назад

Luca

Devita 🇮🇩
The xvs bought back from BNB Chain revenue is adde...

ok I see. So I guess Ethereum next quarter and Arbitrum one one quarter after, right?

0

5 месяцев назад

Devita 🇮🇩

Luca
ok I see. So I guess Ethereum next quarter and Arb...

I suppose so, these two chains already have superior APY compared to BNB Chain

0

5 месяцев назад