Vote on Key Proposals to Govern the PolyCUB Economy
Increase MTB Wrapping Fee - the first PIP is a proposal to increase the Multi-Token Bridge Wrapping Fee.
For the first time, we talked about how much wrapping fee revenue was generated by the PolyCUB MTB Protocol. This wrapping revenue is used to buyback POLYCUB and deploy it into the vexPOLYCUB vault for the 20% fixed APY.
This means that the greater the MTB revenue, the greater the buybacks of POLYCUB. POLYCUB buybacks being deployed into vexPOLYCUB also means that we are effectively removing liquid POLYCUB from the market and depositing it into the vexPOLYCUB vault where it needs to wait until the unlock time has elapsed in order to be withdrawn and either re-staked or sold on the market.
POLYCUB is going to be removed from the liquid supply at a rapid pace each month.
PIP2 aims to increase MTB revenue by increasing the wrapping fees for pHBD, pSPS, pHIVE and pLEO. As of right now, the wrapping fee is 0.25%. The proposal has 3 voting options (as will almost all PIPs):
Keep it the same (0.25%)
Increase it to 0.35%
Increase it to 0.50%
Vote NOW at https://polycub.com/governance. Voting will close on July 22nd, 2022.