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 and Ethereum.
Proposal
This proposal suggests upgrading Cyclone Protocol on IoTeX mainnet to v2 for the sleek UI and improved token economics to incentivize anonymity providers, on May 4, 2021. Concretely, this upgrade includes the upgrade to the new UI, launch of new anonymity pools, and new liquidity mining pool.
Upgrade to New UI
Upgrade to the new UI for all pools on IoTeX mainnet (http://cyclone.xyz/iotx), which has a fresh, spacious interface to provide users with a streamlined experience.
Launch New Anonymity Pools (Cookie Pools)
Pool Biscuit
Asset: native IOTX coin
Asset Denomination: 50,000 IOTX
Life Cycle: 90 days
Anonymity Mining v2: 0.2 CYC per day
Entry Fee: 0.002 CYC which is deposited to treasury DAO
Relayer Fee: 1 IOTX
Pool Snickerdoodle
Asset: native IOTX coin
Asset Denomination: 500,000 IOTX
Life Cycle: 90 days
Anonymity Mining v2: 1 CYC per day
Entry Fee: 0.02 CYC which is deposited to treasury DAO
Relayer Fee: 1 IOTX
Pool Gingersnaps
Asset: VITA
Asset Denomination: 2,000,000 VITA
Coin Denomination: 100 IOTX
Life Cycle: 90 days
Anonymity Mining v2: 0.05 CYC per day
Entry Fee: 0.001 CYC which is deposited to treasury DAO
Relayer Fee: 1 IOTX
Retire Fish and Birds Pools
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Encourage users to move funds out of these pools and deposit into new pools after the launch, e.g., withdraw from Cyclone Protocol - Transaction Privacy based on zkSNARKs and deposit into Cyclone Protocol - Transaction Privacy based on zkSNARKs
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Stop support fish and bird pools on May 31, 2021.
Launch New Liquidity Pool
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Deploy the new liquidity pool (using AeolusV2.sol) for the same CYC/IOTX LP on mimo (https://mimo.finance)
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Set its liquidity reward to 25 CYC per day
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Set the liquidity reward to 0 for the old liquidity pool and encourage users to withdraw CYC/IOTX LP tokens from Cyclone Protocol - Transaction Privacy based on zkSNARKs and deposit into Cyclone Protocol - Transaction Privacy based on zkSNARKs
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Stop support the old liquidity pool on May 31st, 2021.
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.