[1IP-1] 1inch Trading Incentives v1.0

I think our first vote is not so perfect. People don’t know how to deposit their 1inch in their wallet in advance, so they lose the right to vote. I suggest setting a time to let us know and open a new voting opportunity.Thanks!

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Snapshot voting is only available to wallets that had the tokens available at the time of the proposal. They can’t move the tokens to their wallet later and vote on a proposal that went live when their tokens were not.

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So Is there a chance to remedy it?

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I don’t quite understand what you mean by “remedy”, the Snapshot mechanism IS a remedy/protection against an abuse of the voting system, all what I could recommend is to closely follow discussions on the forum and always make sure you have enough on the balance to vote in favor of a proposal that resonates with you.

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First of all, because we can’t determine the exact voting time ( Snapshot height) after the end of Stage-2, we didn’t transfer the token to the wallet to get the right to vote; Secondly, if you can, I hope you can start voting at a certain time again, so that everyone will be ready; In the end, the first time is not always perfect

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Could you explain your situation more? Where were your tokens when the vote started?

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when the vote started my 1inch token on Binance! Because i don’t konw exact start time,so i miss the Snapshot [12,788,017 ].I thinke most of community members don’t know exactly when to start.It’s a pity this time.

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Let’s split this proposal to at least 2 proposals. This voting have only 2 options but there are 4 outcomes: accepting both, accepting only first, accepting only second, rejecting both. Let’s make it clear for every one.

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Thank you for your advice! We hope to announce a certain voting time and block chain height, so that all community members can fully prepare and think.

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How much delay will be enough to prep ? A week or 3 day is good enough ?

First of all, the proposal needs to be forwarded and announced by the community through Twitter,telegram, otherwise not all the community members will participate;Secondly, I think three days is enough;Finally, I hope we are making progress all the time!

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There are several iterations I wanna apply into current Proposal . I’ll be Making a better V2 Soon

I Also think LPs do enough already for the both 1inch token and the 1inchDAO and should be offered a voice in the decision making process.

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Lucky we have you ! i alreday move my 1inch on wallet wating your proposal!

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@Natalia @Tanz0rz Hi,admin! I hope more community activities can be poss on 1inch
office twitter, so that more community personnel can pay attention to and participate in it! Thanks for all!

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when open the new proposal?

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Answered here

This is the 2nd Iteration of [1IP-1] which Can be Called as V2
New Upcoming Metrics -


A. Trading Milestones will depend on :

  1. Total Trading Volume of a User w.r.t to the 24hr Volume on 1inch DEX
  2. Trading Frequency = No. of Swaps made on daily/weekly/monthly basis by User
  3. Amount of a Single Swap
  4. 1inch Record Breaker [ NEW ]
  5. Trading Streaks
  6. Trading Combos [Trading LPs Directly]
[Optional] By Keeping all these Metrics in mind An Open Leaderboard can be Made
The leaderboard will be visible to all & May contain user info like 
their social profile links , Current Streaks Organic Volume Traded via 1inch 
& A Special Tag if a user Broken a Record on 1inch DEX etc.

1st 3 Features are pretty clear what they do but this new metric called ‘1RB’

will work as follows -

  1. 1inch Team will set an Amount on 1inch DEX for The Biggest Swap Ever done via 1inch DEX
    // Can also be derived from on - Chain Data
    Let’s say Current Record Holder for Biggest Swap Ever Done Via 1inch is 10,000$
    Now if 24hr Total Volume = 1,00,000$
    But if a Single Swap of a User on same day thro 1inch DEX
    Amounts => 1/5th of 1,00,000$ = 20,000$

Then That User will Set a New Record of Highest Swap Ever done Via 1inch .
This New Record can get a Multiplier of 2x or 4x further [Can be Decided by team]

There will 2 Type of Record Holders

a. Biggest Record of the Year / Resets every year if remain unbroken
b. Current Highest Record of the Month / Resets every Quarter

  1. These New Records can be set for each Category separately

B. 1inch Stakers Fee Reduction :

  • More you interact with 1inch Governance Rewards lesser will be the Fee Reductions

This is to Stop People that will just sell staking rewards to benefit fee reduction .
So those Who just Stake 1inch & Trade Separately will have Better Reduction rates

Problem: Now let’s Say if the Price Next Day drops from 5$ to 2$
then 2000 * $2 = $4,000 [user getting more benefit now with a lesser threshold than before]
So, Potential downside is the Price manipulation . So instead of having direct price impact we will have
1inch Lag Price

What is 1inch Lag Price ?
TBC …

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That’s great! More and more careful and perfect!Let’s look forward to it together!

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1inch Lag Price let’s call it ‘1LP’ is a difference between the New & Old 30D Avg. Price of 1inch Token which will stay same if New Avg. price is less than previous Avg. Price

Example -

Let’s say 30D Avg. Price of 1inch Token in

Jan  Feb  March  April  May  June  July  Aug  Sept  Oct

10$   5$   2.5$   6$    11$  120$  60$  50$    40$  20$
  • Now We started With Jan & initial 30D Avg. Price came out as 10$
  • On Feb , 30D Avg. Price Drops to 5$ But 1inch Lag price will stay at 10$ & even in March it will still be at 10$
  • But As we saw than in May it gone up to 11$ so now 1inch Lag Price will be set to this New Price which is 11$

This Feature Prevents Dumping of 1inch token if happened to churn Fee Reduction .
But if Price Pumps it’ll just set a new 1LP Target .

But if Price Got Pumped too much that it is not broken again under next 4 months like you can
see in June it shot to 120$ but didn’t crossed above it in next 4 Months

‘N’ no. of months Can Be Voted or Decided by Team

A new Condition will be triggered which is
Sum of ( Current 1LP price + Previous 4 MOnth Price Avg. ) / 3

/n Can Be Voted or Decided by Team

i.e. 120+60+50+40+20/3= 97$ = New 1LP Price

1inch Dev team can perform further optimization on this code

TBC …

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I can’t wait to vote!This complete implementation.

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