This proposal is to receive feedback from the community regarding BiFi reward rate and distribution of BiFi tokens through Everdex.
BIP-001 proposes to lower the BiFi token emission for depositing and borrowing on BiFi, and to propose distributing BiFi tokens for certain pools on Everdex for liquidity providers. The purpose of this proposal is to lower the token emission rate (inflation) and to have BiFi tokens be more actively used throughout the Bifrost ecosystem. Should this proposal pass, the current emission rate of 5M BiFi tokens/month will be lowered by half (2.5M tokens/month) and will continually be reduced every 3 months. Along with the aforementioned changes, 10% of all fees collected by Everdex will now be used to buy back and burn BiFi tokens.
| Effective mo. | 2 mo. after | 3 mo. after | 4 mo. after | 5 mo. after | 6 mo. after | 7 mo. after | 8 mo. after | 9 mo. after | 10 mo. after | 11 mo. after | 12 mo. after | 13 mo. after | 14 mo. after | 15 mo. after | 16 mo. after | 17 mo. after | 18 mo. after | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BiFi | 2M | 2M | 2M | 1.5M | 1.5M | 1.5M | 1.2M | 1.2M | 1.2M | 1M | 1M | 1M | 800K | 800K | 800K | 500K | 500K | 500K |
| Everdex | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K |
| Total | 2.5M | 2.5M | 2.5M | 2M | 2M | 2M | 1.7M | 1.7M | 1.7M | 1.5M | 1.5M | 1.5M | 1.3M | 1.3M | 1.3M | 1M | 1M | 1M |
Please feel free to contribute your opinion on this proposal, for improving BiFi and expanding the Bifrost Network ecosystem.