Building The Long Term Value of STN For The Community — Current Thoughts Looking For Community Feedback

Recap regarding the high gas fee for USDT vault withdrawal 31 Mar 2020:

Situation:

Complication:

the snapshot of Aave Lending Market

Solution:

  • We have been gradually getting liquidity back to STONE on 1st April 2021, and with the support of dForce team, we have finally accumulated enough liquidity back from the underlying lending protocol;
  • At 1.30 am 2nd April, and then dForce has gradually accumulated liquidity from the lending protocol
  • At 8.20 am 2nd April, STONE has fully called back liquidity back to our USDT vault

Regarding alpha mining rewards distribution and bringing long term value of STN to the community

  1. Alpha mining rewards will be calculated retrospectively based on per block and the percentage of users’ total-value-locked (“TVL”) within each block. A similar approach for our future farming rewards will be implemented.
  2. The total amount of alpha mining rewards shall be a token of appreciation of early supporters and cover some additional high gas fee during the period.
  3. Shall we distribute the rewards at the earliest possible timing or we shall let the price discovery of STN be more mature before distribution? There will be hodlers and sellers for sure, and that is normal. We would like to seek a balance not to create panic in the market and let the market fairly discover the value of STN.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store