Important Voting Proposals
Mound Fam,
There are a couple of important voting agendas regarding Bunny and Mound Vault prior to disclosing the 2022 roadmap. The voting will be held simultaneously, and the holders of certain tokens are all entitled to vote.
TL;DR
- Proposal to Adjust BUNNY Emissions (BUNNY holders)
- Proposal to Adjust BUNNY Fee Structure (BUNNY holders)
- Proposal to Adjust Mound Vault for MND-BNB LP (MND holders)
Proposal to Adjust BUNNY Emissions
BUNNY’s Tokenomics have been designed to distribute the highest profits to the users, and more than 100,000 users have used our platform. However, the complexity involved with continuing to deliver competitively high APYs in the current DeFi 1.0 era has given the team an impetus to consider new options this year. Given the mission to provide a sustainable source of profit for BUNNY holders, we do believe that it is the right time for the team and community to consider adjusting the BUNNY emissions model.
Our proposal to adjust the inflation rate of BUNNY is presented below.
- Decrease the BUNNY Emissions:
- Leveraged Farming Vault, Single Asset Vaults (Lending): Vaults that allow leveraging mint more BUNNY, thus we will propose to remove the BUNNY minting parts which will result in a 6% decrease in the profits.
- Auto-compounding Cake Vault, LP Vault: Currently 70% LP profits + 36% BUNNY profits are given to the user. This will be adjusted to 100% LP profits + 0~6% BUNNY profits. This means Floating Rate Emissions (FRE) will no longer exist.
- BUNNY-BNB, BUNNY Vault: The emission rate will decrease when the new fee structure is in place and it can provide a stable enough APY.
2. No Change.
We look forward to seeing the active participation of all BUNNY holders.
Voting period: From January 12, at 09:00 UTC to January 17, at 09:00 UTC
Voting Link: https://snapshot.org/#/pancakebunny.eth/proposal/0xc796b7b9f9e3c283a55ea41bf1cc9848dee9278058c2934d2b2ffc972d58106a
Proposal to Adjust BUNNY Fee Structure
Unlike other protocols, Bunny has not been charging any fees. However, our proposals to sustain the stability of BUNNY Vault’s APY and to make staking more attractive to BUNNY holders are addressed as follows.
Current fee structure:
- Leveraged farming fee: 3% of farmed rewards(e.g. CAKE) at the time of harvest
- Liquidation fee: 5% of remains after repaying loans
- Unstaking fee: 0.5% of total staking applied only when unstaking within 72 hours.
- Pot fee: 10% of the prize
- Prediction fee: 3% of the prize
Proposed changes:
- Unstaking fee: Increase from 0.5 to 1%.
- (New) auto-compounding fee: 1% of farmed rewards(e.g. CAKE) at the time of harvest
In order for the protocol to provide LP at a stable ratio, Team Bunny will make use of a certain portion of the Performance Fee to raise the liquidity of BUNNY-BNB, referring to the DeFi 2.0 cases. Also, there will be a contract (covering the raised portion of fees above) set up to not be withdrawable by the team without having the agreement of the community.
Farming rewards (CAKE) gained from BUNNY-BNB LP from the protocol will be used to buy back BUNNY which will then be split into two, transferred to Marketing Treasury and the Burn Address.
- Marketing Treasury: 50%, used for strategic token swap with other projects.
- Burn Address: 50%
The detailed amount of Buy Back and Burn of BUNNY will be available to see at pancakebunny.finance
Options regarding the fee structure are as follows.
- Yes, we should adjust the Fee Structure as proposed.
- No, the Fee Structure should stay as it has always been.
Voting period: From January 12, at 09:00 UTC to January 17, at 09:00 UTC
Voting Link: https://snapshot.org/#/pancakebunny.eth/proposal/0xf9fdd43c5681201ab968e2128e7e7f802a22aa762799c884c133c3525d1b08ce
Proposal to Adjust Mound Vault for MND-BNB LP
The Mound Vault was designed to capture and distribute the full value of our ecosystem directly to the community. The MND token in Mound Vault is a fixed-volume utility token, meaning that it has a fixed emission rate and is not minted over time by blocks or by transactions. We are well aware of the difficulties when it comes to trading MND due to the lack of liquidity.
Therefore, we suggest modification of the Mound Vault to hold MND-BNB LP as a staking asset in order to secure liquidity and additional profits such as swap fees.
If the vote passes, users will need to buy BNB to make MND-BNB LP tokens or sell half of their MND balance.
Regardless of the voting result, the team will provide MND-BNB liquidity gradually. So feel free to vote for either option.
Options regarding the revision of MND Vault are as follows:
- Modifying the MND Vault to MND-BNB Vault
- Keep it as Mound Vault as usual
We would like to thank our community for making the initial suggestion for the above proposal. We look forward to seeing the active participation of MND holders.
Voting period: From January 12, at 09:00 UTC to January 17, at 09:00 UTC
Voting Link: https://snapshot.org/#/mndvault.eth/proposal/0x830eb8c5300a6862e82b40d6509fd8963660dfa840dd6ce8ce1a6d916889735f
PolyBunny Renewal
PolyBunny is a protocol on the Polygon network that was initially designed to match the performance of the BUNNY Tokenomics–one of the most successful tokenomics models on the BSC. While polyBunny regrettably has not performed up to our expectations, the experience played a key role in helping the team determine a smart, safe, and repeatable strategy for new network expansion.
Team Bunny has long been considering all possibilities to come up with the best option that can essentially benefit the PolyBunny ecosystem and the holders with various utilities. We regret to inform the PolyBunny holders that the voting on polyBUNNY renewal will be conducted once a suitable solution is found. With that being said, any suggestions and ideations regarding PolyBunny Renewal are warmly welcomed.
Concluding Remarks
As always, thank you to the community for supporting our projects and for continuing to give insightful suggestions to our team. Team Bunny will keep moving forward to continuously injecting values to our platforms for those of the users who have been with us from the beginning with steadfast faith and support.
And remember, Bunny Fam, as always — Keep Calm and HOP ON!
ABOUT PANCAKEBUNNY
PancakeBunny is one of the most popular auto-compounding yield aggregators on the Binance Smart Chain. The BUNNY Ecosystem is an aggregation of projects and protocols, including Qubit, that serve as destinations for investors who wish to participate in the efficiencies and gains made possible by decentralized finance. Join the strongest community on the BSC here!
