Board resolutions on raising the satellite protocol Balance handling fee to 0.1%

Dear user:

Hello! Since the launch of Balance, the fee income obtained by it is far lower than the mining cost subsidized by Defibox. Therefore, according to the resolution, for the long-term development of the Defibox, and to increase the pool depth of Balance,the following two measures will be implemented on March 8, 2023:

• The 0.06% handling fee charged by Balance is increased to 0.1%, of which 0.07% is used for market maker rewards, and 0.03% is Balance protocol income;

• Balance launches new liquidity pool EOS-sEOS；

The discussion process of the above resolutions focused on the following:

The statistics of Balance in the past 6 months show that:

The average monthly fee income is close to 600 USDT, totaling about 3,500 USDT in 6 months;

From Balance entering the Yield+ reward list to the end of February, the total Yield+ income is 6,600 EOS, which is around 8,000 USDT;

That is, the total systematic income of Balance in the past 6 months is 11,500 USDT;

In addition, according to statistics, the mining subsidy of BOX in the past 6 months is close to 28,000BOX, and the cost is close to 28,000USDT based on BOX=1 U;

From the above data, it can be concluded that Balance is still in a relatively negative income stage. Therefore, after discussion by the board, it is hoped that through the above two measures, while increasing Balance’s income, the satellite protocol will be further linked to achieve 1+1>2 effect;

The listing of a new flow pool, EOS-sEOS, can empower sEOS, and increase the TVL of Balance. In addition, due to the design of the Vault product, it takes 5 days for sEOS to redeem EOS. If the liquidity pool is launched, users can redeem EOS immediately.