Increase protocol share from 10% to 20%

Protocol share = portion of accumulated interest that goes to VIRES governance and is shared across locked gVires.
In April, VIRES holders locked gVires long-term with the expectation of near 100% utilization for a significant amount of time until the liquidity problem could be unwound. While utilization has remained near 100% for over a month now, the APR was slashed in a rigged vote, significantly reducing payouts to those who locked gVires (and have to wait months for them to unlock). Furthermore, borrowing has been halted (without vote) for over a month, again cutting off potential payouts to those who locked gVires.
gVires holders should get their fair share. Thus, the protocol share should be raised from 10% to 20%.
I would propose this idea but I lack 1000 gVires.

It sounds good. I’m interested in hearing others opinions in this thread. However, as I’ve said before, NOTHING that doesn’t benefit the few people who control this “DAO” is going to ever be voted through again. So if this benefits them, it might have a chance of passing if proposed.

I get it, I also locked vires when governance apy was 250%.

Changing protocol share from 10 to 20% is not the solution tho… It will again, punish suppliers, as they’d see lower interest rate once more, in another rigged vote.

  • There’s 2 wallets with 50k Vires. They’d definitely vote yes for 20%… They also have a significant amount of debt as well. So instead of paying the people they borrowed from, they’d be paying interest to themselves, risk free. It would be another serious blow to Vires credibility.

Fixing the trash cap on interest, that keeps debtors from being liquidated, cutting profits in half for vires holders too, would be a better solution. We’d see debt liquidated and paid off, liquidity would be freed up, and the market could continue. But now, it’s just stagnating… Only reason it’s not a decline, is waves buy up vires to keep their monopoly.

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