CDzExchange Community Governance Voting on Accrued Withdrawal Fees
Brief background on CDZ WithdrawFees
On app.cdz.exchange Staking and Playlist pools, there is a 2% early withdrawal fee, if you withdraw deposited CDZ or LP tokens before 72 hours have passed since depositing.
This withdrawal fee is to encourage token rewards for those who stake for the mid to longer term, who are more likely to be active community members.
The team recently announced their roadmap update with new partnership products and features coming out, as well as a new CTO, Simon Hsu, who formerly worked at Microsoft.
The public WithdrawFee wallet collects all early withdrawal fees:
This address is published on our docs page:
https://docs.cdz.exchange/faqs/token-allocation
In alignment with our ongoing updates, we are excited to conduct our first community governance voting!
The first community governance vote is happening!
As we continue with our roadmap, we will conduct our first community voting to decide on what to do with the accrued fees. The accrued fees have been collecting into the WithdrawFees address — now it’s time for the community to decide on how the project should use it.
How do I vote?
Voting will be done on Discord. Anyone in our Discord community can vote for the purpose of simplicity. Future governance voting will incorporate CDZ as an entry ticket into voting.
Vote options:
- Burn all 🔥
- Burn 50% 🔥 and keep 50% for the Protocol Insurance Fund (PIF)* 💸
- Airdrop proportionately to all token holders 🎁
*The PIF will be used for the derivatives and margin liquidation mechanism
When is the voting period?
72 hours voting period from: Tuesday 28th Sep 12:00 UTC to Friday 1st Oct 12:00 UTC
After voting is concluded, the team will activate the result within 48 hours.
Vote on Discord: https://discord.gg/89fBXAwR
