Tokenomics Update Proposal — Aug 2022
To strengthen the OpenLeverage tokenomics model and enhance OLE token utility, we are proposing the following changes to the current tokenomics settings and inviting discussion:
- Decrease emission for each epoch from approximately 5m to 2.8m OLE.
- Extend the vesting schedule for unvested retroactive rewards of the next 11 epochs to 18 months.
- Simplify Clans Clash ranking calculation by weight of active lending and trading position, placing more consideration on trading volume.
- New rewards are to be distributed to traders by the size and time of the positions, absolute profit, and profit in percentage.
- Use $200k from the insurance fund to decrease the circulation supply and incentivize the holding of OLE.
- Team allocation vesting schedule changes from locking 3 months at listing then linear vesting 5 years, to locking 12 months from listing then linear vesting through 4 years 3 months.
- Increase mining cost:
a. OLE trading mining cost increase to par, currently at 50%.
b. OLE/BUSD pair extra rewards reduce from 50% to 5%
c. xOLE trading acceleration reduce from 240% to 30%
d. xOLE lending acceleration reduce from 240% to 20%
We invite you to discuss this with us on Tuesday, 30th Aug at 12 PM UTC.