Adjust Wing incentive rate for Peer-to-Peer Pool

Reasoning:
This proposal aims to increase Wing token economic and follow past WIP-04 and WIP-14.
Current Wing incentive distribution rate:

  • Flash Pool (Ontology) 34.12%
  • Flash Pool (Ethereum) 0.14%
  • Flash Pool (OKC) 0.12%
  • Flash Pool (BNB Chain) 36.21%
  • Flash Pool (Ontology EVM) 0.1%
  • NFT Pool 0%
  • Peer-to-Peer Pool 29.31%
  • Inclusive Pool 0%

Follow this distribution rate seem Peer-to-Peer Pool now have high weight but Wing Protocol don’t generate any reserve for WIP-04 [Should Wing DAO buy back WING tokens from the open market and burn them via smart contract]

Peer-to-Peer pool also not follow WIP-14 [New Usage for WING: borrower can only get WING APY by locking WING ]

Proposal Overview:
Discontinue the Wing incentive for Peer-to-Peer protocol

2 Likes

I will vote for this. P2p pool really bad economic for our protocol

Agree. 30% should be the starting point. It should be removed completely later on.

3 Likes

I think so. P2P really bad for our economic, please create the vote ASAP

1 Like

P2P pool not follow our WIP14 rule for Wing incentive distribution

1 Like

Yes, P2P pool can be removed in advance for Wing protocol

1 Like

Admin please create the Vote for users.

When will vote happen? Peer-to-Peer pool still increase in distribution rate

1 Like

P2P pool don’t generate any Team reserve for buyback Auction.

2 Likes

Yes. They not followed WIP-14 also don’t generate any reserve for WIP-04 which can be found here wing. finance/vote?anchor=wip04)

1 Like

It will be determined by Wing DAO admin. Maybe happen soon in a week.

1 Like

Actually, this doesn’t depend on admin. Instead, after a proposal reaches 100 views and ten comments, a voting application can be initiated. Here are the specific rules
https://gov.wing.finance/t/adjust-wing-incentive-rate-for-peer-to-peer-pool/1107

I already change the proposal. Hope we will vote soon

1 Like

Discontinue the Wing incentive to match WIP-14 and WIP-04. We should act asap before too much users abuse P2P pool only for incentive.

1 Like

I got the research from WingDao Geoff Richards

https://geofftrichards.medium.com/token-incentives-in-defi-b550859a3968

It has been for a while. Can we vote on this now?