Background
Cyclone is the leading #PriFi protocol that offers cross-chain + zkSNARKs-based privacy, with yield enhancement, governed by the decentralized DAO. Cyclone has been successfully launched on IoTeX, BSC, Ethereum and Polygon.
With the vigorous development of IoTeX, the projects on the IoTeX chain are showing an explosive growth trend. Cyclone has achieved partnerships with many projects on IoTeX, ZoomSwap, Blade, etc. In the next phase, Cyclone will focus on cooperating with high-quality projects on IoTeX and Binance Smart Chain to create a more valuable DeFi ecosystem.
During this proposal period, Cyclone’s anonymity/liquidity reward on Polygon Pools is about to expire, we made a proposal as follows:
Proposal
The proposal suggests to reduce the Polygon Liquidity Pool reward after expiration, these funds will all be used to facilitate collaboration with quality projects on IoTeX and BSC. At the same time, we will refill the rewards of Polygon pools with anonymity/liquidity rewards which will expire soon. Details as follows:
Polygon - Pool Pentagon
Asset: 1,000 MATIC
Life Cycle: 120 days
Anonymity Mining v2: 0.06 CYC per day
Polygon - Pool Hexagon
Asset: 1,000 USDC
Life Cycle: 120 days
Anonymity Mining v2: 0.03 CYC per day
Polygon - Pool Octagon
Asset: 2 QUICK
Life Cycle: 120 days
Anonymity Mining v2: 0.03 CYC per day
CYC-MATIC Liquidity Pool
Asset: CYC/MATIC LP
Life Cycle: 120 days
Liquidity Mining: 5 CYC per day (reduced from 20 CYC per day)
Once the proposal passed, additional CYC will be minted and injected into these pools on 1/22 5:00 AM to support them operate for another 120 days with the proposed amount of anonymity/liquidity reward.
The Vote
This proposal needs to be approved via a vote by the community before execution.
Discussion
Please discuss this proposal in this forum thread.