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 Binance Smart Chain & Ethereum Pools is about to expire, we made some proposals as follows:
Proposal
The proposal suggests to reduce the Ethereum Liquidity Pool reward after expiration, and will use these funds to promote cooperation with high-quality projects on IoTeX & BSC. At the same time，we will refill the rewards of BSC & ETH pools with anonymity/liquidity rewards which will expire soon. This proposal also suggests that Cyclone conduct governance migration. Details as follows:
1. Refill BSC & Ethereum pools with anonymity/liquidity rewards 3rd round as follows:
BSC - Pool C3PO
Asset: 100 BNB
Life Cycle: 90 days
Anonymity Mining v2: 3 CYC per day
BSC - Pool R2D2
Asset: 10,000 BUSD
Life Cycle: 90 days
Anonymity Mining v2: 1 CYC per day
BSC - Pool BB8
Asset: 25,000 IOTX
Life Cycle: 90 days
Anonymity Mining v2: 0.5 CYC per day
BSC - Pool Jonny5
Asset: 3 CYC
Life Cycle: 90 days
Anonymity Mining v2: 2 CYC per day
ETH - Pool Latte
Asset: 100 ETH
Life Cycle: 90 days
Anonymity Mining v2: 3 CYC per day
ETH - Pool Espresso
Asset: 100,000 USDT
Life Cycle: 90 days
Anonymity Mining v2: 3 CYC per day
ETH - Pool Cold Brew
Asset: 100 TORN
Life Cycle: 90 days
Anonymity Mining v2: 0.15 CYC per day
CYC-BSC Liquidity Pool
Asset: CYC-BNB LP
Life Cycle: 90 days
Liquidity Mining: 20 CYC per day
CYC-ETH Liquidity Pool
Asset: CYC-ETH LP
Life Cycle: 90 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 12/24 5:00AM UTC to support them operate for another 90 days with the proposed amount of anonymity/liquidity reward.
2. Migrate Cyclone Governance to IoTeX Chain
IoTeX has been growing impulsively in the past ten months, gaining many more Cyclone users and a large number of high-quality ecosystem projects. Therefore, we propose migrating Cyclone governance from Binance Smart Chain to IoTeX to support IoTeX users directly. Essentially, https://snapshot.org/#/realcycloneprotocol.eth will take a snapshot of users’ CYC on the IoTeX network to vote on proposals.
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.