HIP-13 | Fees Burn - LYDRA/HYDRA Liquidity Pool

Completed Votes
1

:small_orange_diamond: HIP-13 | Fees Burn - LYDRA/HYDRA Liquidity Pool :small_orange_diamond:

Snapshot Time for the Vote:

First block after July 27, 23:59 UTC time.

Voting Period:

Voting starts: July 28, 00:00 UTC time
Voting ends: August 02, 23:59 UTC time

Voting Addresses:

Burn HYDRA → HHxxxxBURNHYDRAxxxxxxxxxxxxxt2oGr2
Burn LYDRA→ HHxxxxBURNLYDRAxxxxxxxxxxxxxye3eJC
Burn BOTH → HHxxxxBURNDUALxxxxxxxxxxxxxy3DMoit

Threshold for Approval:

  • Highest percentage of votes wins. The exponentiating formula will apply

Summary of Proposal:

  • Choose between the 3 provided options, to either permanently burn HYDRA, or burn LYDRA or burn both assets

Link to the Full Proposal:

Voting Procedure:

  1. 0.1 HYDRA sent to any of the three addresses above will credit your entire snapshot weight to the respective side.
  2. Note that the last transaction counts, meaning that you can change your vote within the voting period.
  3. Transactions above or below 0.1 HYDRA will not count.
  4. The exponentiating formula will apply as usual

Thank you for your participation!

4 Likes
2

The voting results for HIP-13 are as follows:

:small_blue_diamond: Raw Votes:

HYDRA → 9.51%
LYDRA → 84.16%
DUAL → 6.34%

:small_blue_diamond: Adjusted Votes:

HYDRA → 17.75%
LYDRA → 64.60%
DUAL → 17.65%

Hereafter, all Fees collected by the DAO’s liquidity pool on the HYDRA / LYDRA pair will be converted to Lydra and burned regularly on a monthly basis.

The more transactional volume / trades go though this pair on HydraDEX, the more fees accumulate, resulting in the burning of LYDRA

1 Like