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

Account Address

Options
1Validators UnitedYes
2DVSYes
3MMSYes
4MZONDERYes
5FLINTSTONEYes
6CALISTAYes
7iptradeYes
8Contribution DAOYes
9Binary HoldingsYes
10EgozitNo
11StakecitoYes
12redelegate_pleaseYes
13black lodgeYes
14COSMØSTAKEYes
15L0vd2 | L0vd.comYes
16Citadel.oneYes
17Cosmos Cats 🐈Yes
18SUNREN 🐳 | BROXA ⚛️😸Yes
19CroutonDigitalYes
20CoinMetrikaYes
21Cypher CoreYes
22AlphabetYes
23Let's Node! & 1packageYes
24AnonstakeAbstain
25Stakeme.ioYes
26CosmostationYes
27CosmoWizYes
28Active NodesYes
29BlueStake 🚀Yes
30rxpwnzAbstain
31HuginnYes
32SegaStakersNo
33HighStakes.ch | Stake for AirdropYes
34[NODERS]TEAMYes
35StakersAbstain
36vnasYes
37ProvalidatorAbstain
38NotionalYes
39☉ MercuryYes
40OtterSyncAbstain
41Blockscope.netYes
42Swiss StakingYes
43Staking_Rewards | reStakeYes
44QubelabsYes
45Craving_for_Knowledge | reStake enabledYes
46Imperator.coYes
47w3coinsYes
48BaryonYes
49kjnodes.com 🦄Yes
50NodiumsAbstain
51ushakovYes
52Nodes SquadYes
53White WhaleAbstain
54KalpaTechAbstain
55node75 & pro-nodesYes
56WitvalYes
57KingSuperAbstain
58node101Yes
59StakinAbstain
60bitsznNo
61P-OPS TeamYes
62PalamarYes
63n1stakeYes
64upnode.orgAbstain
65AM Solutions 🌊Yes
66StakeTownYes
67AutoStake 🛡️ Slash ProtectedYes
68🔥STAVR🔥 REStake ON✅Abstain
69DSRVAbstain
70polkachu.comNo
71TienThuatToanYes
72StakeAngleYes
73mediumYes
74ELYSIUMYes
75Nodes.GuruAbstain

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