Stage I : Initial Changes
Last updated
Last updated
Stage I of the V3 migration will introduce some of the bigger changes to the overall model that the team and community have been working diligently on to decide.
veNFTs will have a split() function enabled to allow division of ve positions into multiple smaller instances.
The concept of relocking, and claiming rebases will become a thing of the past-- making veNFT management significantly more user friendly. veNFTs will now BURN the RAM upon creation, and will stay permanently locked. This does not mean veNFTs are no longer tradable, it just means our FDV and marketcap will be closely related.
With the Voting Escrow changes, we are also implementing an active rebasing system. This means that users will need to participate in the weekly governance process of directing emissions (voting) to earn a rebase.
Boost has been a constant controversy since the implementation of V2 (CL) and has created quite a few inherent issues regarding retail attraction and user acquisition. While we believe the boost model itself has potential, it falls short without extensive education and hand-holding. Due to our multi-pronged expansions, we believe removing boost (at least for the time being) is something that will enhance our product significantly.