NEOPIN Tokenomics 3.0: AutoRM Proposal Passes with Community Majority Support
Hello NEOPIN Community,
We’re excited to share the news that the NEOPIN Improvement Proposal NIP-1, introducing the Automated Reallocation Mechanism (AutoRM), has successfully passed with a total voting rate of 51.84%. The breakdown shows 51.81% in favor (‘YES’) and a minimal 0.03% opposing (‘NO’). We appreciate everyone who took the time to participate in this important decision.
AutoRM at a Glance
In case you missed it, the AutoRM is designed to reshape NEOPIN’s tokenomics, strategically reducing the circulating supply of NPT while enhancing its value. This mechanism leverages protocol fees and node validation revenue, automatically reallocating tokens based on trading activity and operational performance.
Key Features
- Autonomous Swap (Phase 1, Q1 2024): Utilizing node validation revenue to retrieve and reallocate NPT, offering NEOPIN community members front-running opportunities with increased reward rates in yield farming pools.
- Deflationary Auction (Phase 2, 2024): Allocating protocol fees for an auction, where users can bid using NPT. The highest bidder secures an asset portion of the auction, providing arbitrage opportunities for the NEOPIN community.
Token Reallocation Resources
- 50% of node validation revenue
- 40% of protocol fees
What This Means for You
- Scarce and Valuable NPT: AutoRM aims to reduce the supply of NPT, making each token more scarce and valuable.
- Increased Demand: Regular token reallocation ensures increased demand for NPT, benefiting community members.
- Long-Term Sustainability: AutoRM contributes to the long-term sustainability of the NEOPIN protocol by mitigating inflation risks.
Next Steps: NIP-1 Roadmap Implementation
With the community’s approval, the Autonomous Swap mechanism is set to kick off on-chain in Q1 2024. The Deflationary Auction mechanism is scheduled for an on-chain launch in 2024. Detailed information will be shared by the core development team during the smart contract deployment.
Community Governance Appreciation
This achievement marks a significant step towards a decentralized and community-driven NEOPIN. Thank you to each member who participated in the AutoRM voting process. Your engagement is crucial in shaping the future of NEOPIN.
Stay Tuned for Updates
As we move forward, stay tuned for updates on AutoRM implementation. The NEOPIN community’s voice has spoken, and together, we’re building a more robust and sustainable ecosystem.
Thank you for being a valued part of the NEOPIN community!
