VIP-038 Increasing XTN vesting and allowing imports of VVXTNLP

Proposals
#1

Proposal ID
3nqiZ7vY28wRDSUgeLjzzeCX2CGEQRooWdnsq89jVGyW

The situation

USDN has completed its transition to XTN, and therefore the adaptive vesting controlled by peg stability is no longer useful. Users should be able to withdraw XTN uninhibited and as quickly as the market will allow.

PART 1

  • Change vesting to proportional for 500 days, with accumulation on every block

PART 2

  • VVXTN imports are unrestricted (no minimum/maximum)
  • Whale accounts (>250k) will be able to convert up to 750k XTN to VVXTNLP, then reimport to take part in XTN vesting
  • Remove import limits for VIRES_USDC_LP and VIRES _USDT_LP (old markets) to allow free conversion to XTN vesting

Why is this important?

To free up stuck Vires users and reduce bot warfare, with this proposal all users get paid out of the total daily pool proportionally according to their vesting balance. Accumulation means there will no longer be any need to come to the platform everyday and wait for a withdrawal, the withdrawals will accumulate in the user balance and are available anytime. There can be a total of ~100 million XTN in vesting over 500 days, this would give a total daily pool of ~200K XTN. The re-enabling of unrestricted LP token imports(VIRES_USDC_LP, VIRES_USDT_LP, VV_XTN_LP) allows whales to exchange up to 750k of their vesting balance, into LP tokens and reimport them to take part in regular vesting with small accounts.

Transaction Payload

{
  "type": 12,
  "version": 2,
  "data": [
    {
      "key": "max_whale_to_lp",
      "type": "integer",
      "value": 750000000000
    },
    {
      "key": "min_import_vvusdnlp",
      "type": "integer",
      "value": 1
    },
    {
      "key": "op_liquidao_withdrawVestedAsLP_paused",
      "type": "boolean",
      "value": false
    },
    {
      "key": "daily_import_limit_3PEiD1zJWTMZNWSCyzhvBw9pxxAWeEwaghR",
      "type": "integer",
      "value": 30000000000000
    },
    {
      "key": "daily_import_limit_3PGCkrHBxFMi7tz1xqnxgBpeNvn5E4M4g8S",
      "type": "integer",
      "value": 30000000000000
    }
  ],
  "senderPublicKey": "3gQ8QUfoGQW6YVuhUv3zuqsbmxbV5F2FAuDXJqVKD6C9",
  "fee": 600000,
  "feeAssetId": "WAVES",
  "timestamp": 1677056330505
}
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#2

XTN is no longer tied to the dollar. No stable coin. Would it be possible to add an oracle for this coin (requested many times here)?

IMG_20230215_162107
IMG_20230215_1621071080×592 97.8 KB

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#3

I like about import thing

1 Like
#4

Part 0
Accumulation on every block should be implemented without voting, it’s better for the whole community except for bots.

Part 1
Proportional, but with a minimum amount for current vested xtn users, otherwise all users below a certain amount will take longer to withdraw. Example: you still have 50 xtn in vesting, after implementation you need to wait 500 days to get it.

Part 2
Good. Only proportional for new imports to prevent abusing minimum amount.

#5

I think this proposal is good, but I would propose a little change:

Make a snapshot of all accounts in Vesting:
for those accounts disable the import but keep the limit of $x withdrawal min a day.
This way, small accounts can leave, since many where blocked by bots for the majority of the last months and didn’t withdraw much.
For all new accounts coming to vesting use the 500day linear formular for withdrawal.
And please add incentives and collataral to raise XTN-price.

1 Like