Official @defichain ticker council account: deactivated from March 7th 2023 onwards.
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Joined September 2022
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DeFiChain Ticker Council retweeted
Confirming to step down as a TC member. DeFiChain is going the next step towards decentralization, really appreciate that.
DeFiChain Ticker Council retweeted
It was an exciting time a new, but a new era has started! On chain governance is here. Thanks it was a pleasure to be part of the council!
About 1.5 years ago, the ticker council was established to facilitate some processes on @DeFiChain, which it has done very successfully. Now, with onchain governance live, its job is done. All members have therefore unanimously decided to resign and shut down the ticker council.
DeFiChain Ticker Council retweeted
confirming the stepping down. Was an honor the serve the community this way.
Its a real pleasure to see @defichain taking the next step towards full decentralization
DeFiChain Ticker Council retweeted
Confirming, that I am stepping down. This is the right decision for the community, by giving its all its power with full decentralization.
About 1.5 years ago, the ticker council was established to facilitate some processes on @DeFiChain, which it has done very successfully. Now, with onchain governance live, its job is done. All members have therefore unanimously decided to resign and shut down the ticker council.
Onchain governance takes over instead completely. In a future DFIP voting round, this should officially be accepted by the majority of masternodes as well. We are super excited for this decentralized future ahead.
Its 6 members @lordmarkcrypto, @uzyn, @mkuegi, @DanielZirkel, @julianhosp and @chickengenius will confirm here as well that they are stepping down unanimously and dissolving the council with immediate effect.
This request was unanimously approved by the ticker council. (Julian and U-Zyn abstained, as explained in the post)
reddit.com/r/defiblockchain/…
Following from the DUSD burn mechanism, block 2'301'000 has been set for the reward reduction to start.
Reward for DFI-DUSD pool will be reduced by 5% from the block. DUSD burning 🔥 will start then, in 2 days time from this tweet. defiscan.live/blocks/countdo…
TC has unanimously agreed to the change proposed by @phigo90 and @mrgrauel .
TC is now evaluating, with the technical team, on the implementation complexity and will be able to advise on the activation block soon.
A summary can be found on reddit.
reddit.com/r/defiblockchain/…
TC has unanimously agreed to the following logic regarding the stabilization fee:
every day we have a $DUSD price > 1$ for at least one pool and at least 2880 blocks, the fee lowers by 0.5% towards the calc value
an algo-ratio below 50% will increase the lowering to 1%/day
TC has unanimously agreed to the change proposed by @phigo90 and @mrgrauel .
TC is now evaluating, with the technical team, on the implementation complexity and will be able to advise on the activation block soon.
A summary can be found on reddit.
reddit.com/r/defiblockchain/…
The ticker council made the recent 30% stabilization fee change with the following in mind:
1. An announcement would have only helped short sellers and fudders.
2. Hodlers can sell for a higher price now than this morning - so, they won. An announcement would have only hurt them.
3. Seeing the feedback from people outside of the community, who just want DeFiChain and DUSD to fail, highlights how the decision is the right one.
4. It is clearly helping people within the community.
5. Burn went up, we will see more DUSD rewards.
6. It was the right move.
The 30% fee will stay for the next 7 days, and should ensure that all the mechanisms around DUSD start to work and all the FUD and shortselling disappears. Then the road to lowering the fee step by step will be initiated again.
All Ticker Council decisions are based on its power given by the @defichain master nodes. Follow this account for official ticker council announcements. Responsibilities: github.com/DeFiCh/dfips/issu…
