Proposal Details

Proposal #123

Passed

Proposal title

UMEE Burn Auction Module (Signaling Prop)

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

65.72%

Proposal #123 description

We propose the UX protocol take 2% of fees generated from liquidations and send the fees to a burn auction module (refer to Gravity Bridge’s Burn Auction Module/the Apollo Upgrade for an example of this being currently implemented in the Cosmos Ecosystem), where users are only allowed to bid on the assets using UMEE, with the winning bidder’s UMEE being subsequently burned and non-winners being sent back their UMEE.

The two primary benefits of the burn auction are: it will encourage more interaction with the UX platform (attracting new users) and this method of supply reduction exclusively targets circulating supply which will have the greatest impact on market supply/demand dynamics.

If this proposal passes, the development team should explore the best way in which to go about implementing such a mechanism so that UMEE can begin it's journey towards an Ultra-Sound and Deflationary Future.

Vote Yes if you support this idea. Vote No if you do not support this idea.

Link to CW discussion and poll: https://commonwealth.im/umee/discussion/14055-umee-burn-auction-module

Proposal #123 overview

Total votes

968

Voters

913

Total deposit

500,000 UMEE

Proposal #123 votes

#	Validator	Options
1	Validators United	Yes
2	DVS	Yes
3	MMS	Yes
4	MZONDER	Yes
5	FLINTSTONE	Yes
6	CALISTA	Yes
7	iptrade	Yes
8	Contribution DAO	Yes
9	Binary Holdings	Yes
10	Egozit	No
11	Stakecito	Yes
12	redelegate_please	Yes
13	black lodge	Yes
14	COSMØSTAKE	Yes
15	L0vd2 \| L0vd.com	Yes
16	Citadel.one	Yes
17	Cosmos Cats 🐈	Yes
18	SUNREN 🐳 \| BROXA ⚛️😸	Yes
19	CroutonDigital	Yes
20	CoinMetrika	Yes
21	Cypher Core	Yes
22	Alphabet	Yes
23	Let's Node! & 1package	Yes
24	Anonstake	Abstain
25	Stakeme.io	Yes
26	Cosmostation	Yes
27	CosmoWiz	Yes
28	Active Nodes	Yes
29	BlueStake 🚀	Yes
30	rxpwnz	Abstain
31	Huginn	Yes
32	SegaStakers	No
33	HighStakes-Daily Airdrop	Yes
34	[NODERS]	Yes
35	Stakers	Abstain
36	vnas	Yes
37	Provalidator	Abstain
38	Notional	Yes
39	☉ Mercury	Yes
40	OtterSync	Abstain
41	Blockscope.net	Yes
42	DISCONTINUED - Swiss Staking	Yes
43	Staking_Rewards \| reStake	Yes
44	Qubelabs	Yes
45	Craving_for_Knowledge \| reStake enabled	Yes
46	Imperator.co	Yes
47	w3coins	Yes
48	Baryon	Yes
49	kjnodes.com 🦄	Yes
50	Nodiums	Abstain
51	ushakov	Yes
52	Nodes Squad	Yes
53	White Whale	Abstain
54	KalpaTech	Abstain
55	Pro-Nodes75	Yes
56	Vitwit (Previously Witval)	Yes
57	Encapsulate (fka KingSuper)	Abstain
58	node101	Yes
59	Stakin	Abstain
60	bitszn	No
61	P-OPS Team	Yes
62	Palamar	Yes
63	n1stake	Yes
64	Deprecated Validator	Abstain
65	AM Solutions 🌊	Yes
66	StakeTown	Yes
67	AutoStake 🛡️ Slash Protected	Yes
68	🔥STAVR🔥 REStake ON✅	Abstain
69	DSRV	Abstain
70	polkachu.com	No
71	TTT 🇻🇳	Yes
72	StakeAngle	Yes
73	medium	Yes
74	ELYSIUM	Yes
75	Nodes.Guru	Abstain

View:

Umee

Proposal Details

Proposal #123

Proposal #123 description

Proposal #123 overview

Proposal #123 votes