On July 19, 2022, the proposal to upgrade ONUS Shares V3 and transform the revenue sharing model was officially approved on ONUS Voting. Accordingly, this August, ONUS will launch an upgraded version of the ONUS Shares feature with a new policy and operation method.
Today, August 16, 2022, ONUS officially announces the operation mechanism and upgrade progress of ONUS Shares v3.
1. Scoring mechanism
ONUS Shares v3 will continue to use vONUS points to determine benefits for users in the Governance Pool and limit participation in Launchpad programs. To receive vONUS tokens, users must deposit a minimum of 500 ONUS into the Pools.
- 30-day Pool: Deposit 1,000 ONUS, get 83 vONUS.
- 90-day Pool: Deposit 1,000 ONUS, get 250 vONUS.
- 180-day Pool: Deposit 1,000 ONUS, get 500 vONUS.
- 365-day Pool: Deposit 1,000 ONUS, get 1000 vONUS.
- The vONUS token is only used to determine the participation ratio and benefit sharing in the pool. Users cannot trade or transfer vONUS to others.
- Users can use vONUS to participate in receiving revenue share in ONUS Governance Pool.
- 7-day Pool in ONUS Shares v2.0 will be removed. Users need to unstake to load into larger pools. For other pools, user stakes are automatically recorded at ONUS Shares v3.0.
- vONUS will still be used to determine eligibility to participate in Launchpad programs at ONUS.
- Due to the specific mechanism of the Governance Pool, the amount of ONUS Lock (ONUS deposited to upgrade VIP/Partner) will not get automatic participation in ONUS Shares v3 and Governance Pool. To ensure the benefits for partners and VIP users, ONUS will continue to pay Staking interest for ONUS Lock, similar to ONUS Shares v2.0’s 30-day Pool, at the ratio 1:2 (Get 2 VNDC for each 1 ONUS locked).
2. Governance Pool
ONUS Shares allows participants to have voting rights for important decisions and can receive revenue share from the ONUS platform with the following ratio:
- 20% of the revenue from the Trading transactions (estimated share is 0.02-0.05% of trading volume).
- 20% revenue from ONUS Futures products (ONUS revenue accounts for 25% of total ONUS Futures revenue, including VNDC Futures and USDT Futures).
- 20% of FuturesSwap revenue (ONUS revenue accounts for 20% of the total transaction fee revenue of FutureSwap products).
- 20% of revenue from P2P transaction fees.
- Rewards will be shared 100% in VNDC (other tokens will be converted into VNDC for sharing).
- In the case that ONUS’s total revenue is less than 5,000,000,000 VNDC (5 billion), ONUS Shares will temporarily halt revenue sharing for members in order to cover operating expenditures, research, etc.
- Due to specifics related to the market and risk management, some other types of revenue from Farming, Credit Line and some fees are not currently shared and will be added in the future.
How the Governance Pool works:
- Governance Pool operates on a 28-day cycle, the first cycle starts at 0:00 on September 1, 2022.
- The system will reward the previous cycle within the first 7 days of the next cycle.
- To participate in receiving rewards, users need to own vONUS before 00:00 on the first day of a cycle. The system will automatically record the amount of vONUS to determine the reward rate for that cycle.
- To withdraw vONUS from the Governance Pool, users need to submit a withdrawal request during the cycle period. The vONUS token will be returned to the user wallet after the first 7 days of the next cycle, and this amount of vONUS tokens will not be credited for the next cycle.
The ONUS Shares feature v3.0 is expected to launch on August 20, 2022. ONUS will have specific announcements and participation instructions for the community.