Dear ApolloX users,
ApolloX DAO has attracted a lot of attention and users since its launch. Following suggestions from our community, ApolloX has opened voting for our second core proposal. All users are welcome to join the official ApolloX Discord Forum to engage in discussions and to cast your vote through Snapshot.
Proposal details:
Proposer: ApolloX DAO Administrator
Quorum vote requirement: 30% total power value of the platform, reaching 0.5 million votes
Voting time: 7 days
Proposal content:
Dear ApolloX users,
As a gesture of appreciation to everyone for your continuous support and contribution to the platform, and to allow more users to participate in the Trading Rewards Program, ApolloX plans to implement a trading fee reward cap ratio for individual users. Tokens that exceed the trading fee rewards cap will be taken out from the smart contract address and will not circulate in the market, thus reducing APX circulating supply.
The adjusted formula for reward calculation:
r= min(r1+r2, RCapRatio)
r1={Rw/sum(w1-wk),FeeCapRatio)
r2 = R0.2Q / sum(Qi)
*In general, Fee_Cap_ratio means that in the scenario that the APX reward calculated according to the weightage is greater than the actual fee contribution value (selected by voting), it will be distributed to the user according to the threshold of the actual fee contribution value (selected by voting). The specific parameters of the formula are detailed as follows:
|
r |
User’s APX Reward for each Epoch |
|
r1 |
APX Reward based on trading fee contributions |
|
r2 |
APX Reward based on Market Maker trading volume contributions |
|
R |
Total rewards to be split between all users in the pool for each Epoch |
|
v |
Market Maker trading volume for each Epoch |
|
b |
Multiples based on boost acceleration after locking APX in DAO (b=1 by default) |
|
Q |
Individual Market Maker trading volume contributions scores in the day. Q = v*b |
|
sum(Qi) |
Sum of all users’ Market Maker trading volume contribution scores |
|
Cap_ratio |
The reward cap ratio for every single user 15% for this epoch
|
|
Fee_Cap_ratio |
Trading fee reward cap ratio, the initial setting is X%
|
We encourage users to vote on the Fee_Cap_ratio options. After the voting, the new reward calculation method will be implemented in the 23rd Epoch of Trading Rewards Program. The program rules will be announced separately after the voting result takes effect.
Option 1: No adjustment in trading fee reward cap ratio
Option 2: Fee_Cap_ratio: 102%
More details about ApolloX DAO can be found in Governance.
Thank you for your support!
Risk Warning: Crypto futures trading carries a substantial risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of ApolloX.