The very first Governance vote on Polycat Finance has finished. The results are in.
We’re very happy to see the involvement of our community! 💜
Over 1,000 votes were cast on Polycat Finance’s very first Governance vote with 821,680 FISH.
REMEMBER: You do not lose your FISH when you vote, it only registers the amount of FISH you had when the proposal started (at a certain block) and counts it as your voting power
The question was “How should the dividend vault be split?”.
We have let our users vote to decide on how to split the Dividend Vault Fund (DVF), sitting at $2,923,912.74 at the time of writing this article.
The results are as follows:
This was a weighted vote, meaning users could choose a ratio when voting. The ratio will thus be 40%/40%, 10%, 10% (we’re rounding up to the tens).
- 40% of the DVF (~$1,164,000) will go into a Medium risk vault (WMATIC-BANANA)
- 40% of the DVF (~$1,164,000) will go into a Low risk vault (WMATIC-DAI)
- 10% of the DVF (~$291,000) will go into a Safe risk vault (IS3USD) (currently, 100% of the DVF is in here)
- 10% of the DVF (~$291,000) will go into a High risk vault (ICE-USDC)
This new DVF split should result in the following daily dividends for users staking in the single stake FISH Dividend Vault:
This represents over 10 times more dividends than right now. 💸
The DVF split vote will be redone every once in a while to best adjust the DVF, or any time a user with over 10K FISH starts one.
REMEMBER: Anyone with 10,000 FISH or more can start a proposal on snapshot.polycat.finance
⭕ Important note: In case of high market volatility or a sudden bearish downturn, the team reserves the right to immediately move the DVF into a safe, stable vault.
Instead of having only one DVF vault, we will now have four of them.
All 4 DVF vaults will buy PAW from the market and pay dividends to the single-stake FISH Dividend Vault.
Proposal #2: 24 hours to go
Vote: What should we do with vault fees?
Should the 4.5% performance fee from vaults (currently used to buyback and burn FISH) be ADDED to the Dividend Vault Fund (DVF) to increase it or directly paid as PAW dividends to users staking in the single-stake FISH Dividend Vault?