Based on the LON litepaper, for every 1 LON bought back, 1 LON will be minted. The LON minted will be distributed to the traders, market makers, relayers and referrers
More specifically, referrers earn 15% of the total trade mining reward pool.
Unfortunately, after genesis mining, we have not achieved the desired results from the referral program
Few people have successfully referred users to Tokenlon, which led to a situation of a small group of users receiving 15% of the trade mining pool.
This is unfair to the other groups who contributed proportionally more trading volume
Goal Of Proposal
Call for LON holders to vote on the reward pool allocation for referrers
Proposed Action Items
According to the voting result, the change will take effect in the phase VIII LON trade mining
Addresses with more than 0 LON or xLON can vote
Addresses currently participating in LON liquidity mining or holding the respective LP tokens can vote (including unclaimed LON reward)
Voting start time: 2021.12.1 12:30 pm UTC+8
Voting end time: 2021.12.3 12:30 pm UTC+8
A. Continue with the current scheme, with a revamped referral scheme. Retain 15% rewards for referrers.
B. Lower referrer rewards down to 5%, traders to receive 45%
C. Lower referrer rewards down to 0%, traders to receive 50%
Join the Voting
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