Proposal for Adjustment to oBTC Minting Rewards

Recently, we have witnessed some deflationary effect in such a volatile market through the gradual progression of emission reduction to a few of our farms. Therefore we want to propose cutting the oBTC minting rewards by no longer providing any $BORING rewards to users when minting oBTC, to further control the number of $BORING tokens in circulation.

Since oTunnel has been launched, in total, about 9,000+ BTC has been minted and 8,000+ has been burnt. Therefore, approximately more than 30 million $BORING have been minted through the coin mining process. It is clear that continuously distributing such a huge amount of rewards will aggravate the inflation of $BORING tokens. Hence, incentives for the oTunnel users to mint oBTC will be ended.

Pros: stop providing $BORING rewards to oBTC minting will be conducive to reducing the inflation rate, to further mitigate inflation on $BORING tokens.

Cons: no extra rewards for the oBTC minting process. oBTC farms won’t be affected by this.

PS: if this proposal gets passed, minting rewards for oLTC and oDoge will also be adjusted, and the previous proposal to lower the pledge ratio allocated to oLTC will be implemented with this one together.

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To reduce the inflation rate of $Boring I feel it’s important for this proposal to get passed.

since oBTC has launched for 15 months and works smoothly, personally I think BoringDAO treasury don‘t have to provide extra minting rewards to oBTC minters, but provide bribes to Convex or Votium.