Cooperation proposal between XBTS DEX and BTSDAO
XBTS offers itself as a participant in the Surfing plan initiated by the BTSDAO community.
The Surfing Plan aims to further incentivize through the use of gateway transaction asset fees to buy back DEFI, mine, and lock LP.
XBTS offers XBTSX.STH
https://ex.xbts.io/asset/XBTSX.STH asset to participate in surfing.
The conditions for joining XBTSX.STH to the Surfing plan are as follows:
1. SmartHoldem STH
https://ex.xbts.io/asset/XBTSX.STH will participate in the Surfing plan.
All fees earned for trading STH in any trading pair and liquidity pools where add STH will be distributed as follows:
50% of XBTSX.STH market fee income is used to repurchase DEFI. DEFI deposits into the pool and LP assets acquired are permanently locked.
In addition, XBTSX.STH 50% is used for SmartHolder Staking
https://app.xbts.io/#/smartholder/.
50% of XBTSX.STH market fee income is used to buy back DEFI - 1st and 15th day a month when accumulating STH fees up to 100 percent or more.
2. XBTS creates an account to repurchase DEFI and continues to add DEFI deposits to the pool, locking the resulting LP assets permanently. The multi-signature account - xbts-miner-lockedlp is controlled by both XBTS and BTSDAO.
XBTSX.STH already has one XBTSX.STH/BTS pool running
https://app.xbts.io/#/pool/SMARTHOLDEM/.
To comply with the conditions, BTSDAO create its own pool of BTS/XBTSX.STH and a DEFI/XBTSX.STH Pool will also be created by BTSDAO. Distribution of DEFI will be done through the BTS / DEFI pool in accordance with BTSDAO rules.
3. From the airdrop date, within one year, the XBTSX.STH transaction fees received by XBTS will be transferred to the xbts-miner account to redeem DEFI and participate in DEFI mining. The generated LP assets will be transferred to the xbts-miner-lockedlp account (a multi-signature controlled by xbts-team and btsdao) and permanently locked. The resulting DEFI will be returned to xbts-miner and will continue to participate in mining. After a year, XBTSX.STH transaction fees will no longer be credited to the xbts-miner account, and the DEFI received by xbts-miner can also be traded.
Cooperation on this Surfing plan requires:
1. Votes of the BTSDAO Council.
2. The XBTS applicant pays a listing fee to BTSDAO of 100,000 DEFI/pool = 200,000 DEFI for 2 pools.
XBTS paid a listing fee of 200,000 DEFI
https://ex.xbts.io/block/65999170/1If a UI side such as BTS++ charges additional fees, the applicant must take care of it, which is not included in this listing fee.
This cooperation proposal will be put to the vote of the BTSDAO Council and will be implemented after the vote has been taken.
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