APR Adjustment Voting Launch

Dear Klaytn Definix Community and vFINIX holders

We are glad to inform you that the Official Launch schedule of the Voting Feature as below :

  • Feature Launch Schedule: 2022/01/06 Thursday 4pm KST (2pm Thai)
  • Feature preview Schedule: 2022/01/06 Thursday 3pm KST (1pm Thai)

vFINIX holders are able to exercise their voting rights for the 2 agendas :

  1. [Monthly Update] APR Adjustments for Long-Term Stake Rewards
  2. [Weekly Update] APR Adjustments for Farm / Pool / Rebalancing

Proposal for Adjustments to Long Term Staking Rewards The purpose is to reallocate partial daily emission rate ratio from all farms to vFINIX (Long Term Staking) which could increase the attractiveness and interests on Long Term Staking features. The adjustment will have an positive effect on Long Term Staking APR and the community based on following details:

The main benefit that the investors will received from Long Term Staking:

  • Shortage circulated supply
  • Stabilize the price.
  • Reduce governance token sell

The criterion of adjustment:

  • Add 2% of daily emission ratio to LTS (37%)
  • Deduct 2% of daily emission ratio from LTS (33%)
  • Keep the daily emission ratio of LTS the same (35%)

The APR of LTS will be adjusted based on the vote result that earns the most of the vote power.

The APR adjustment will be effective on 2022/01/19 Wed 4pm KST

The purpose is to reallocate the partial (53–57%) daily emission to Farm / Pool / Rebalancing proportionately with vFINIX voting rate. This agenda will allow the vFINIX holders to participate in creating an investing environment that is the most fitted to the users’ taste. The adjustment is assumed to generate the below-mentioned benefits :

The main benefit that the investors will receive from Farm/Pool/Rebalancing:

  • Encourage Klaytn Definix users’ participation on Long-term staking, which will lock up more governance token and stabilize the price.
  • Allow the users to become a part of creating a more user-friendly environment of their choice.
  • Meet the needs of the Definix community

The criterion of adjustment:

  • 53% — 57% of daily FINIX emission will be allocated to the Farm / Pool / Rebalancing proportionately to the vFINIX holders’ voting rate.
  • Each vFINIX holder can choose the Farm / Pool / Rebalancing with their voting power as below :

With the choices above it will cause all farm ratios to be adjusted based on the weight of allocation by proportional to the percentage on the choice above.

The APR of LTS will be adjusted based on the vote result that earns the most of the vote power.

The APR adjustment will be effective on 2022/01/19 Wed 4pm KST

  1. Voting Period and Update

a. The voting period (hereafter “round”) for each voting agenda of APR adjustment is 7 days (weeks)

b. Each round starts every Monday 10:00 am KST (8:00 am Thai) and closes at 9:59 am Monday of the following week.

c. The voting result of each round will become effective on every Wednesday 4:00pm KST (2:00pm Thai) on the week the vote closes.

d. The first round only shall have an extended period of round. (10 days 18 hours)

  • The voting for APR Adjustments for Long-Term Stake Rewards is monthly
  • The voting for APR Adjustments for Farm / Pool / Rebalancing is weekly.

Round Schedule

2. Voting Result on APR Adjustment

a. 90% of the daily FINIX emission (total 86,400) is allocated for the vote.

  • 10% is allocated for the Dev Account.
  • According to the choice with the most vFINIX, the choice with the most vote shalll be allocated to Long-Term stake.
  • Depending on the voting result of Long-Term stake, the rest of daily FINIX emission shall be allocated to Farms/Pools/Rebalancing, adjusted proportionately to the voting result

3. Voting Power

  • The Voting feature is only limited to vFINIX holders (hereafter “holders”)
  • The holders are able to vote for any agenda they wish to exercise their voting power.
  • They can additionally vote for the agenda as long as it is open and cannot withdraw their power. They can only claim their vFINIX as soon as the vote is closed.

4. Conditions

  • In any case the voting result is deemed to generate negative influence on the Definix ecosystem and its tokenomics, the voting agenda is subject for adjustments, change, or removal.

vFINIX — User Guide for Voting

Investors who enter the Long-term stake will get vFINIX as rewards, which can be used to vote to help improve our platform. Investors must have vFINIX to vote. (Acquired from Long-term Stake)

  1. Select the vFINIX menu on the left-hand side >> select Voting.

a) There will be topics for users to choose from

b) vFINIX is required to vote.

c) When votes are made, the number of vFINIX will be deducted by the number of votes each user casts.

2. Connect your wallet to Klaytn Definix

3. Select Farms/Pools/Rebalancing of your choice in “Cast your vote”, and click “Cast vote” (Multiple choice is allowed)

4. Once “Confirm vote” screen appears, enter the amount of vFINIX in the Farms/Pools/Rebalancing of your choice, and click “Confirm”

5. Approve the transaction in your wallet..

6. Your vote has been casted successfully!

7. You can view the current results of the vote on the right.

8. At the end of the voting period (voting closes), users can press the “Claim Voting Power” button to claim the vFINIX coins back into their wallets.

9. If the deadline to close the vote has not yet been reached, you can press the “Details” button to view the voting details. And can press the “Vote more” button to cast more votes.

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