Difference between revisions of "Improvement Proposals"
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DeFiChain Improvement Proposals (DFIPs) | DeFiChain Improvement Proposals (DFIPs) | ||
| + | |||
| + | == DFIPs already processed == | ||
| + | |||
| + | === DFIP #1: Bitcoin anchor reward source and mechanics adjustments === | ||
| + | |||
| + | ==== Overview ==== | ||
| + | In the white paper, every 60 blocks 5 DFI is set aside to be paid out to successful Bitcoin anchoring. The paper does not mention the source of the 5 DFI. This proposal is to address the source for anchor funding and make it clear and trackable. | ||
| + | |||
| + | ==== Proposal ==== | ||
| + | 0.1 DFI from each mined block to be accumulated in a smart contract address. This 0.1 DFI should be coming from the community part of the reward (i.e. 10% of block rewards). | ||
| + | |||
| + | If this proposal passes: block reward would look as follows: | ||
| + | |||
| + | * 180 DFI as mining reward for masternode | ||
| + | * 19.9 DFI goes to community fund | ||
| + | * 0.1 DFI goes to Bitcoin anchor reward smart contract | ||
| + | |||
| + | Upon successful anchoring, the entirety of the smart contract holding (in DFI) will be awarded to the anchorer. | ||
| + | |||
| + | Upon approval, this proposal will be implemented during the next hard fork. | ||
| + | |||
| + | ==== Stage ==== | ||
| + | |||
| + | * Request for Comment (RFC) | ||
| + | * Voting | ||
| + | * Concluded - PASSED | ||
| + | |||
| + | This proposal is currently on RFC stage for discussion. Once it gets the initial general understanding and acceptance, it will then proceed to voting stage. Voting will be conducted by masternodes. As this is likely one of the first votes of DeFiChain, voting instructions will be announced in due time. | ||
| + | |||
| + | ==== Voting ==== | ||
| + | Masternode snapshot will be taken at block 294,000 of DeFiChain mainnet. | ||
| + | |||
| + | Voting will open until Monday, 21 September 2020 00:00 UTC. Please post your votes and proofs here in this GitHub issue before the closing time. | ||
| + | |||
| + | Refer to README for voting instructions. | ||
| + | |||
| + | ===== Vote options ===== | ||
| + | |||
| + | * Yes, I agree. Sign: <code>dfip-1 yes</code> | ||
| + | * No, I do not agree. Sign: <code>dfip-1 no</code> | ||
| + | * Neutral. Sign: <code>dfip-1 neutral</code>. | ||
| + | |||
| + | ==== Results ==== | ||
| + | 21 votes received. | ||
| + | |||
| + | 20 masternodes voted for yes. 1 voted for no. | ||
| + | |||
| + | DFIP #1 passes. | ||
| + | |||
| + | === DFIP #2: DeFi incentive funding === | ||
| + | |||
| + | ==== Overview ==== | ||
| + | DeFiChain will be launching various decentralized financial (DeFi) transactions soon. As with all financial services, centralized or decentralized alike, liquidity is key in adoption. An exchange with a bare order book would not be attracting much trading action. | ||
| + | |||
| + | Yield Farming is created for the same reason, to drive adoption and action for many DeFi activities, especially that of new protocols and services. DeFiChain requires a mechanism for us to drive adoption. | ||
| + | |||
| + | ===== Increasing miner reward ===== | ||
| + | With the recent move by DeFiChain Foundation to unstake all its 288 nodes, and placing them into a single publicly-verifiable address, staking reward for DeFiChain has seen a major increase in yield. Before this move, stakers receive about 25% - 28% of mining reward p.a., since the unstaking of foundation nodes, stakers now receive 50% - 60% of mining reward p.a. | ||
| + | |||
| + | ==== Proposal ==== | ||
| + | 25% of miner reward to be set aside into a smart contract for DeFi incentive funding. | ||
| + | |||
| + | If this proposal and the previous one (#1) passes, block reward would look as follows: | ||
| + | |||
| + | * 135 DFI as mining reward for masternode | ||
| + | * 45 DFI goes to DeFi incentive funding smart contract | ||
| + | * 19.9 DFI goes to community fund | ||
| + | * 0.1 DFI goes to Bitcoin anchor reward smart contract | ||
| + | |||
| + | Upon approval, this proposal will be implemented during the next hard fork. | ||
| + | |||
| + | ==== Stage ==== | ||
| + | |||
| + | * Request for Comment (RFC) | ||
| + | * Voting | ||
| + | * Result - PASSED | ||
| + | |||
| + | This proposal is currently on RFC stage for discussion. Once it gets the initial general understanding and acceptance, it will then proceed to voting stage. Voting will be conducted by masternodes. As this is likely one of the first votes of DeFiChain, voting instructions will be announced in due time. | ||
| + | |||
| + | ==== Voting ==== | ||
| + | Masternode snapshot will be taken at block 294,000 of DeFiChain mainnet. | ||
| + | |||
| + | Voting will open until Monday, 21 September 2020 00:00 UTC. Please post your votes and proofs here in this GitHub issue before the closing time. | ||
| + | |||
| + | Refer to README for voting instructions. | ||
| + | |||
| + | ===== Vote options ===== | ||
| + | |||
| + | * Yes, I agree. Sign: <code>dfip-2 yes</code> | ||
| + | * No, I do not agree. Sign: <code>dfip-2 no</code> | ||
| + | * Neutral. Sign: <code>dfip-2 neutral</code>. | ||
| + | |||
| + | ==== Results ==== | ||
| + | 21 votes received. | ||
| + | |||
| + | 20 masternodes voted for yes. 1 voted for no. | ||
| + | |||
| + | DFIP #1 passes. | ||
Revision as of 17:55, 12 April 2021
DeFiChain Improvement Proposals (DFIPs)
DFIPs already processed
DFIP #1: Bitcoin anchor reward source and mechanics adjustments
Overview
In the white paper, every 60 blocks 5 DFI is set aside to be paid out to successful Bitcoin anchoring. The paper does not mention the source of the 5 DFI. This proposal is to address the source for anchor funding and make it clear and trackable.
Proposal
0.1 DFI from each mined block to be accumulated in a smart contract address. This 0.1 DFI should be coming from the community part of the reward (i.e. 10% of block rewards).
If this proposal passes: block reward would look as follows:
- 180 DFI as mining reward for masternode
- 19.9 DFI goes to community fund
- 0.1 DFI goes to Bitcoin anchor reward smart contract
Upon successful anchoring, the entirety of the smart contract holding (in DFI) will be awarded to the anchorer.
Upon approval, this proposal will be implemented during the next hard fork.
Stage
- Request for Comment (RFC)
- Voting
- Concluded - PASSED
This proposal is currently on RFC stage for discussion. Once it gets the initial general understanding and acceptance, it will then proceed to voting stage. Voting will be conducted by masternodes. As this is likely one of the first votes of DeFiChain, voting instructions will be announced in due time.
Voting
Masternode snapshot will be taken at block 294,000 of DeFiChain mainnet.
Voting will open until Monday, 21 September 2020 00:00 UTC. Please post your votes and proofs here in this GitHub issue before the closing time.
Refer to README for voting instructions.
Vote options
- Yes, I agree. Sign:
dfip-1 yes - No, I do not agree. Sign:
dfip-1 no - Neutral. Sign:
dfip-1 neutral.
Results
21 votes received.
20 masternodes voted for yes. 1 voted for no.
DFIP #1 passes.
DFIP #2: DeFi incentive funding
Overview
DeFiChain will be launching various decentralized financial (DeFi) transactions soon. As with all financial services, centralized or decentralized alike, liquidity is key in adoption. An exchange with a bare order book would not be attracting much trading action.
Yield Farming is created for the same reason, to drive adoption and action for many DeFi activities, especially that of new protocols and services. DeFiChain requires a mechanism for us to drive adoption.
Increasing miner reward
With the recent move by DeFiChain Foundation to unstake all its 288 nodes, and placing them into a single publicly-verifiable address, staking reward for DeFiChain has seen a major increase in yield. Before this move, stakers receive about 25% - 28% of mining reward p.a., since the unstaking of foundation nodes, stakers now receive 50% - 60% of mining reward p.a.
Proposal
25% of miner reward to be set aside into a smart contract for DeFi incentive funding.
If this proposal and the previous one (#1) passes, block reward would look as follows:
- 135 DFI as mining reward for masternode
- 45 DFI goes to DeFi incentive funding smart contract
- 19.9 DFI goes to community fund
- 0.1 DFI goes to Bitcoin anchor reward smart contract
Upon approval, this proposal will be implemented during the next hard fork.
Stage
- Request for Comment (RFC)
- Voting
- Result - PASSED
This proposal is currently on RFC stage for discussion. Once it gets the initial general understanding and acceptance, it will then proceed to voting stage. Voting will be conducted by masternodes. As this is likely one of the first votes of DeFiChain, voting instructions will be announced in due time.
Voting
Masternode snapshot will be taken at block 294,000 of DeFiChain mainnet.
Voting will open until Monday, 21 September 2020 00:00 UTC. Please post your votes and proofs here in this GitHub issue before the closing time.
Refer to README for voting instructions.
Vote options
- Yes, I agree. Sign:
dfip-2 yes - No, I do not agree. Sign:
dfip-2 no - Neutral. Sign:
dfip-2 neutral.
Results
21 votes received.
20 masternodes voted for yes. 1 voted for no.
DFIP #1 passes.
