Governance Votings #1 and #2
This week, we are officially launching our governance system, starting off with two votings being held from Thursday, 29th of April at 11:59PM UTC, until Sunday, 2nd of May at 11:59PM UTC.
We at ethbox highly value our community’s opinion and input, which is why we need your voice to let us know what you think is best regarding the following two topics:
Given the momentary state of the Ethereum network’s exaggeratedly high transaction fees, using Uniswap in comparison to non-Ethereum alternatives such as PancakeSwap becomes rather unattractive.
We want to kickstart the possibility of trading our EBOX token on PancakeSwap by providing a certain amount of liquidity, which will be deducted from our existing liquidity pool on Uniswap.
The question is: How much?
A) Only the profit that ethbox earned by providing liquidity on Uniswap (starting at IDO until the end of the voting)
B) 10% of total Uniswap liquidity
C) 30% of total Uniswap liquidity
D) 50% of total Uniswap liquidity
Our current liquidity on Uniswap values around 800,000 USD, whereas other projects with a similar market cap to ours tend to provide between 300,000–600,000 USD, so there’s definitely room for relocating some liquidity there.
However, please also consider in your voting choice that Uniswap v3.0 will be released shortly, hopefully cutting fees down by a lot.
Liquidity Provider Bonus Program
In order to incentivize users to provide liquidity, and somehow compensate the risks involved with doing so, we will soon be starting our liquidity provider bonus program, which will apply to liquidity providers on both Uniswap and PancakeSwap.
For this purpose, 2% of our total token supply (1,300,000 EBOX) were allocated from the beginning on. The bonus tokens are locked until September 2021, and will then be distributed monthly over a course of 6 months.
These tokens can be distributed to liquidity providers on Uniswap and PancakeSwap in different ratios, in order to accelerate the accumulation on PancakeSwap by incentivizing users to provide liquidity there rather than on Uniswap.
What’s best here, though?
A) 1:1 - Liquidity providers get the same EBOX bonus for providing on either Uniswap or PancakeSwap
B) 2:1 - Liquidity Providers get 2x as much EBOX for providing on PancakeSwap
C) 3:1 — Liquidity providers get 3x as much EBOX for providing on PancakeSwap
Users need to provide at least 5,000 EBOX worth of liquidiy (and the equivalent counterpart in ETH / BNB) in order to participate in our liquidity provider bonus program. Minimum liquidity locking time on Uniswap / PancakeSwap required for participating is 15 days.
It’s also worth mentioning that staking rewards will not be lost when moving EBOX tokens from one’s wallet to Uniswap / PancakeSwap liquidity. Our staking rewards calculator at ethbox.org currently does not factor this in, so it will appear as if you lost rewards or dropped entirely from staking, but this is not the case. We will update the calculation to take account of this as soon as possible.
These are some really important questions, that we can only answer properly with your help.
Our governance system is absolutely free to use and really simple to participate in. Share your voice with us, and let us know what’s best to do in your opinion!