I created bounce finance because I see there are needs for different types of auctions, and the most important purpose of having a platform token is to bring community engagement. I know many come to Bounce Finance for getting free daily token rewards and I am fine with whale activities since they contribute to most of the liquidity, I mean the “real one”, but I think it is unfair for whales to accumulate almost all of the daily rewards.
This is Defi so let's talk in a Defi way. I received complaints about whale activity and unfair reward accumulation from my early supporters and community. As a DeFi creator, I think I need to do something for the sake of making more people play and get the rewards. So since this platform has launched for two days, there will not any token voting for this change. I call it community voice voting. (In the future we will use governance board)
Previously we discussed how tokens are rewarded to swappers (Please see liquidity mining article), and it is based on the number of transactions in ETH compared to the total amount of ETH transaction volume each cycle. We are going to add some additional policies to prevent some big guys to swap aggressively just for rewards.
So the first policy change is:
For a single transaction that is larger than 80 ETH, the reward calculator will count this single transaction as 80 ETH.
For example, if Mr.Bounce gets so excited and he swaps something with a single transaction of 20000 ETH, his single transaction will be counted as 80 ETH. Well, this policy still cannot completely prevent the flaw, but the costs of transaction will be higher for those who conduct wash trades for BOT rewards. You can still make a lot of transactions, and get a lot of rewards. this should mitigate unreasonable swaps.
This policy will be updated to the smart contract next cycle. During update time, liquidity rewards will not be granted for activities between August 5th UTC 00:00 to August 6th UTC00:00. The reward distribution will be resumed under the new policy from August 6th UTC00:00.
After reading this, you may want to say wtf? Is this DeFi? Well, the governance board will be up and private keys will be burned in the next few weeks. Before that, I need to be responsible for supporters and contributors. Life is hard and we need to solve all problems. Bounce bounce bounce!