Council Motion: 2022-01-15 Tinlake Rewards Update

Centrifuge Governance
1

Hello everyone,

I have just put forward the motion to ratify the following proposal:

Proposal Text - IPFS Hash: QmNxQW653u4XesrLoHU8VRr5ChVYBtLV7LmDWF6WiB2T1w

# 2022-01-15 Centrifuge Tinlake Liquidity Rewards Update
By casting your vote on chain, you indicate your approval of changing the Tinlake Rewards on Centrifuge as follows:
1. Mint approximately 2’000’000 CFG into the rewards account (set balance to 2.75M CFG)
2. Split up the LP rewards into separate rates for DROP & TIN tokens
3. Set the issuer reward (formerly AO reward) to 0.00002 CFG per $ per day.
4. Set the DROP token holder reward to 0.00054 CFG per $ per day.
5. Set the TIN token holder reward to 0.00095 CFG per $ per day.

These values will be valid until governance proceeds with another vote.

## References
1. [Poll](https://gov.centrifuge.io/t/poll-restructuring-of-tinlake-lp-rewards/3392)
2. [Discussion](https://gov.centrifuge.io/t/centrifuge-lp-rewards-ideas-for-improvements/3237)

This council motion introduced a majority democracy proposal for the token holders to vote on and has the following preimage hash: 0x933207662be0eb731819b50c8998feef84b2074cd978f822f16c3840a8f03f0b. You can verify the proposal by reproducing the preimage as follows. The reward pallet’s account is 4dpEcgqJpG7cEcfe86JgXiNLBMSLwvHeVzrCaGvDzx2o1nEc

2022-01-15-123632_1471x1596_scrot
2022-01-15-123632_1471x1596_scrot1471×1596 211 KB

This thread will be updated as the vote progresses.

3 Likes
2

The council motion has reached the required 6 votes and was closed in this transaction: Subscan | Substrate based blockchain explorer

@mikiquantum has proposed a motion to fasttrack it with a voting period of 48hrs which is now ready for the council to vote on.

3

The fast track has now passed and token holders have 48hrs to vote on it. The council motion was closed in this transaction: Subscan | Substrate based blockchain explorer

1 Like