PIZZA Pre Chinese New Year Updates Preview
The Spring Festival is approaching, the New Year is coming. In Tradition of China, New year begins with the Spring Festival. During the year, PIZZA underwent a big upgrade that added more features.
In the coming year, PIZZA will bring more functional upgrades to meet the needs of users. Before that, we have some more proposals are being tested and completed in succession, following are the preview.
1. Token Distribution and Destruction
Current PIZZA token allocation (1 billion):
a. 78% Future Community Share
780 millions PIZZA tokens will be taken out of circulation. In the future, a public vote will be held to initiate and determine the use of these uncirculated tokens.
b. 10% Community Share
About 2.7% are already in circulation. 1% is reserved for the foundation’s incentive and activity expenses. The remaining 6.1% (10% — 2.7% — 1% — 0.2%) constitutes the new incentive quota will be out of the current circulation. 0.2% as the rest of the USDE reward were never part of the circulation.
c. 12% Team Share
A 12% team share will be taken out of circulation. Starting in January 2021, there will be 0.25% per month sending to the account “pizzadotlive”, a system account, in 48 rounds over four years. Tokens going into “pizzadotlive” are at the disposal of the team and are expected to go directly into fixed PIZZA savings.
Conclusion: 96.1% (78% + 6.3% + 12%) of the total (1 billion) PIZZA tokens will be taken out of circulation; 1% will be held by the foundation for free incentive distribution to the community; 0.2% the remaining USDE incentive share (not yet in circulation) ; and 2.7% has actually been put into circulation.
2. Fixed Savings
New PIZZA token fixed saving option. Depositors acquire additional voting powers.
3. Vote Power Mining
About 60 millions PIZZA’s incentive quota will be released in a speed of 33,000 PIZZA a day, prorated between the lending mining and the vote power mining. The vote power is acquired through market making and fixed savings. Different conditions have different vote power multipliers.
Vote Power Multiplier:
- Market Making: 10x
- 30days Deposits: 1x
- 90days Deposit: 3x
- 180days Deposit: 6x
- 360days Deposit: 12x
4. New Voting Options
a. Share of vote power mining (out of 33,000 daily quota)
b. Community proposal portal for 78% of total PIZZA tokens
5. More
A. Home page UI upgrade
B. Adding swap.rome to the PIZZA aggregator (completed)
C. Deployment of the new lending contracts, along with audit report and multi-sig
D. The borrowing fee will be reduced to 0.01% , with the removal of the current PIZZA token fee discount policies.
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