IIP-44: BTC2x-FLI Parameter Update #3

Governance Proposal
1

iip: 44
title: BTC2x-FLI Parameter Update #3
status: Proposed
author: Allan Gulley (@allan.g)
created: May 19, 2021

Simple Summary

Raise the supply cap of the BTC2x-FLI from 200,000 units to 400,000 units.

Abstract

Adjust the following parameters on the BTC2x-FLI:

  1. Raise the supply cap to 400,000 units.

Motivation

The initial BTC2x-FLI launch employed a guarded roll-out to ensure stability because it is a riskier leveraged product. The initial supply cap was at 200,000 units and we are proposing that the supply cap is raised to 400,000 units.

As a point of reference, the supply cap for ETH2x-FLI was increased from 200,000 units to 400,000 units via IIP-30 for the same reasons as this proposal for BTC2x-FLI.

At time of writing (05/19/21 @ 9:00am US EST), the total unit supply of BTC2x-FLI is ~139,000, which represents ~70% of the current supply cap. For this reason, we recommend raising the supply cap to 400,000 units.

Though polling is not required for FLI parameter updates, we would like to use a poll to gauge community sentiment before moving to snapshot voting. This poll will be closed on Saturday, May 21th at 9:00 am US EST.

FOR

  • Increase the supply cap to 400k

AGAINST

  • Do not increase the supply cap to 400k (leave at 200k)
  • FOR (increase supply cap to 400k)
  • AGAINST (do NOT increase the supply cap to 400k)

0 voters

Copyright

Copyright and related rights waived via CC0.

2 Likes
2

This parameter update for BTC2x-FLI has been temporarily withdrawn so that the engineering team can review the performance of the relevant smart contracts over the last 48 hours and their responsiveness to adverse market conditions.

[Punia Note: This proposal is back on with permission from Allan on 5/19 at 6:43pm PST]

2 Likes
3

Just going from some discussions on Discord, it might be really useful for the supply cap to be listed in the product info on the indexcoop.com site page. If part of the update process could include updating that page, I think it could be very useful. For both ETH2x and BTC2x.

2 Likes