Proposals of #107

Umee Governance, Tokenomics, and Rebranding Proposal

Exec Legacy Content
passed
Expected result
Turnout / Quorum
98.65% / 40.00%
Voting start 2023.09.15 at 15:09:15
Voting end 2023.09.19 at 15:09:15
99.95%
3 218 696 082 umee
Yes
0.01%
423 367 umee
No
0.04%
1 138 326 umee
Veto
0.00%
3 548 umee
Abstain

Details

Proposer
-
Total deposit
500 000 umee
Submit time
2023.09.15 at 10:09:14
Deposit end time
2023.09.29 at 10:09:14

Description

This proposal aims to offer a pivotal update to Umee's tokenomics and governance framework through 3 major steps:

Tokenomics Restructuring:

Transition from infinite supply to a fixed supply model. Implement an inflation cycle of initially 2 years, governed by UMEE holders. Gradual reduction of inflation rate by 25% after each cycle. Adjust inflation_min from 7% to 5.25%. Adjust inflation_max from 14% to 10.5%. Speed up inflation rate adjustments from 1 year to 6 months.

Governance Drop Program:

Decentralize Umee's governance further. Enable community contributors and key Cosmos and DeFi ecosystem members to participate in governance. Delegated members eligible for staking rewards.

Chain and Token Rebrand:

Propose a name change from Umee Chain to UX Chain (UmeeX) Suggest changing the token's ticker symbol to UX. A move to ensure legal compliance and provide a fresh identity.

Vote YES for these changes: A more resilient tokenomics model, broader community participation, and a refreshed brand identity that aligns with legal requirements.

Vote NO for these changes: Retain the current tokenomics model, governance structure, and chain name.

Discussion: https://commonwealth.im/umee/discussion/13197-tokenomics-change-proposal

Votes

Voter
Answer