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Hello everyone!
As the holder of BOX, I have some ideas about NewDex’s 7.5% BOX token rights or 10% of the protocol revenue rights. No matter what the source of this rights is, I think it is unreasonable. As of now, as a DAO project that is being open and transparent, it should initiate a proposal to stop the continuation of such unreasonable rights, reduce BOX’s burden, and enter a healthier virtuous circle. Of course, the final result is decided by BOX’s DAO vote. Details are as follows:
I saw the proposal about NewDex yesterday, and the relationship between NewDex and BOX came to my mind more and more. Comparing the relationship between B1 and EOS, it became more and more similar.
1) They are all founders. They gave up halfway and kept a large share of the shares. With the mentality of “Dead horses are treated as living horses”, they let them live and die; the current BOX’s shareholding in DEX is like retaining 10% of EOS for B1 .
2) BOX has been independent for six months without any contribution from NewDex, just like B1 doesn’t do anything for EOS, but B1 is an extra liar.
3) NewDex also obtained a lot of BOX tokens in the BOX project in the early stage, just like B1 obtained $4B financing.
After the DAO voted to kick out the “inactive founder B1”, EOS removed the largest EOS parasitic liar, and the ecology gradually recovered, becoming the largest DAO in the current blockchain. Similarly, I think NewDex has no new contribution and should not have any additional benefits from BOX. The previous BOX benefits are not retroactive, but the current protocol revenue or token sharing should be stopped directly.
However, BOX itself is currently in a very difficult period, with low trading volume, low prices, OKex delisting, and Hoo delisting. As the holder of BOX, we should speak out for the BOX holders at this time, reduce the burden of BOX, and enter a healthier virtuous circle.
BOX is a DAO project, and BOX itself needs to save itself. Therefore, taking all into consideration, I would like to ask the committee and the team to initiate a new proposal: directly stop Newdex from obtaining 10% of the protocol revenue from BOX (or 7.5% of the unreleased amount of BOX tokens), as for how to use the reclaimed rights, a new proposal discussion can be initiated.
Also, I see the current DEX proposal passing votes are currently in the upper hand (but don’t affect my proposal). But recall the question about DEX, from the initial 7.5% tokens, to 10% of the protocol revenue, this time to 7.5% of the tokens and all unlocked in advance (only locked for 1 year, according to the current BOX inflation rate , it will take 5 years for the BOX to be fully unlocked). This incident has always been a passive and bleeding disadvantage for BOX from beginning to end. No matter how negotiated it is, it is meaningless, because the right itself is unreasonable for now.
Therefore, [Stopping the rights directly is the best and most beneficial choice for BOX holders]. If the NewDex community has objections, welcome to raise them for open discussion.