Based on multiple town hall discussions in the Axion Discord, the community has agreed that the current auctions are unbalanced, leading to inequality in economic benefit.
Bidding in the regular auction without a referral yields the least benefit, bidding with a self-referral yield the largest. Those users repeatedly self-referring into the auctions were abusing the referral system, making it less beneficial for community members to build useful fan sites and bring in new customers. The referral system also results in several small 14 day stakes, which can be counterproductive due to fees.
With this vote, we will abolish the referral system as it stands and replace it with an ‘Axion Verified Partner’ network. This network would continue to provide a benefit to partners who are bringing in new customers but no longer provide a benefit for the bidders, eliminating self-referrals. If approved, the Axion Core team will initiate another vote laying out the Verified Partner Network requirements and mechanisms. Removing the referral system will also make it slightly cheaper to bid in the regular auctions, and create the stake the following day.
Currently, bidders into each auction receive the following benefits:
VCA: | 10% back in wBTC, and a 90% cap (20% Total benefit) |
Regular | 90% cap on auction level (10% Total benefit) 60-day minimum stake duration |
w/Referral: | 10% Additional Benefit (20% Total benefit) |
w/Self-Referral: | 20% Additional Benefit (30% Total benefit) 14-day auto stake |
Options for this vote:
This is a vote to balance the economic benefit of both the Regular Auctions and the VCA.
Please click the image to enlarge it to read each option:
