From October 2021 until now, ONUS team has spent 20% of profit every month to buy back ONUS tokens from the market to burn until only 50% of the circulating supply remains. At the same time, ONUS also shares profits from P2P transaction fees for customers participating in ONUS Shares.
In order to provide more benefits for investors and increase the value of ONUS token, ONUS proposes to switch to a new profit-sharing model.
Specifically, instead of buying back and burning ONUS from the market, ONUS will share 20% of the monthly revenue (from P2P transaction fees, Futures trading fees, FutureSwap fees, Exchange fees, and interest on Credit Line, and other fee-based features) with ONUS token holders and will suspend ONUS Shares’ current passive staking programs. In addition, the ONUS Lock mechanism will also be adjusted to accommodate to the new profit-sharing model.
As this proposal is an important product change, ONUS will launch a Voting program that will allow ONUS token holders to vote to Agree/Disagree to convert to a new profit-sharing model.
- If the approval rate is higher than 50%, the proposal will be approved. The team will update the new model, which is expected to launch in August 2022.
- If the approval rate is lower than 50%, the proposal is rejected. The ONUS buyback & burn model will be maintained.
- Time: From 03:00 AM on July 16th to 03:00 AM on July 19th
- At: Voting section in ONUS Shares feature.
- Participation requirements: You must be a member of ONUS Shares to follow and participate in the voting process. Voting Power is calculated according to your vONUS* points.
(*) vONUS is the point you get when you join the Pools at ONUS Shares. vONUS points are also your Voting Power. The higher the Voting Power, the more weight your opinion will have in the Voting programs for important ONUS decisions. In addition, the more vONUS points a person has, the more special benefits they have. See details here.