[Proposal] Adjust IoTeX Anonymity/Liquidity Pools - Increase Liquidity Reward, Add New Anonymity Pool

Proposal Discussion
#1

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.

Proposal

After Cyclone transfers the governance to IoTeX, Cyclone will cooperate with more and more projects on IoTeX, and the DeFi ecosystem will be more and more abundant. In order to promote the leap of Cyclone, this proposal suggests:

Part 1

Give double reward for IoTeX liquidity pool to stimulate more users. Once passed, the double reward will be implemented after IoTeX Anonymity/Liquidity Pools expires of this round.

CYC-IOTX Liquidity Pool

Asset: CYC-IOTX LP

Life Cycle: 90 days

Liquidity Mining: 40 CYC per day (increase from 20 CYC per day)

Part 2

Add new anonymity pool-Filda on IoTeX chain after IoTeX Anonymity/Liquidity Pools expires of this round.

IoTeX - Pool FilDA

Asset: 200 FILDA

Life Cycle: 90 days

Anonymity Mining v2: 0.05 CYC per day

Coin Denomination: 100 IOTX

Anonymity Fee: 0.02 CYC

Relayer Fee: 1 IOTX

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.

#2

Each of the ioTex chain/BSC chain/Ethereum chain was mined with 20 CYC per day.

The Ethereum chain has high transaction fees and has a relatively small non-permanent loss compared to the two chains that are different.

However, after thinking deeply, I chose the Ethereum chain.

And some time passed, and contrary to our wishes, the CYC price fell and there were non-permanent losses, but it was too late to withdraw from the pool.

However, it is our responsibility to choose this pool.

And on the one hand, because our team is doing best on this project, if I keep the CYC/ETH pool, the IoTeX ecosystem expands and the total issuance is limited to 50,000, so I expect the value of CYC to recover someday. and kept the pool.

However, with the decision to reduce the daily mining amount for this CYC/ETH pool, some people who chose this pool could not do this or that.
This is not our responsibility or intention, but a decision made by our team.

I have been hurt that the interests of the few are so easily violated by the powerful majority.
This is not the ioTex spirit.

I don’t think this can be recovered.

The reason I am asking this question is to know whether the chaotic emotions such as disregard/loss of trust that holders who provided liquidity to the CYC/ETH pool must suffer in the process of proposal and approval for this time have been taken into account.

And I want to know if this decision is worthwhile enough that the wounds of the holders can be ignored.

I don’t think the team made this offer to hurt our holders, of course.

Like all proposals, I think this proposal is a product of our team’s various considerations.

I want to hear and understand team.

No one can be perfect, including me.
We just need to correct our mistakes.

And if my questions or thoughts are wrong
Please point out the error.
I will deeply apologize.

Thank you for reading this long post while you are busy. :pray: