Dear community users:
By consensus of the community users and FMex Community Proposal Group, FMex community will initiate a referendum on the proposal of FMex sustainable mining 2.0 on November 6, 2019 (GMT+8).
Terminate the current mining policy after the end of the trial operation period of FMex, all the remaining FMEX used for sustainable mining (currently a little less than 350 million FMEX) will be converted into FMEX Fund, and permanently locked for the FMEX held by FMEX Fund.
All dividends earned by the FMEX Fund are used for daily FMEX re-purchase and half of the purchased FMEX is used for mining rewards and the other half is directly destroyed.
(for example, if 100,000 FMEX is re-purchased, 50,000 FMEX will be used as mining reward and the rest will be destroyed.)
The half-life concept will be implemented by adjusting the ratio of the returned & re-purchase amount. Please refer to the following two formulas for details:
· Re-purchase amount >= Mining Return amount
· Destruction amount + Mining Return amount = Re-purchase amount
Since the total amount of mining returns is not fixed, the mining return amount for each trading pair will be expressed as a percentage.
1. Since the mining return amount is less than the repurchase amount, all FMEX returned from mining will no longer to be locked after the implementation of the plan;
2. Since the mining return amount in this plan is all from the repurchase and is continuously destroyed, the total amount and the circulation amount of FMEX will enter the stage of continuous deflation after the implementation of this plan.
1. Votes will be rounded down based on the snapshots of FMEX "lockup position" at 00:00 on Nov.6, 2019 (GMT+8, same below), 100FMEX=1 vote.
2. The number of votes can be set when voting, and the minimum number of votes is 1. Votes may be cast several times until all votes have been cast.
Public time: 18:00 on Nov.4, 2019 -- 18:00 on Nov.6, 2019
Referendum time: 18:00 on Nov.6, 2019, 2019 to 18:00 on Nov. 8, 2019
Finally, we would like to express our special thanks to Japanese community user Odacchi for his 2.0 proposal of Sustainable Mining on FT community Forum. Click to view the content of the proposal.
November 4, 2019