Proposal: XCN market delisting and STRK reward adjustment

I propose to delist XCN market and adjust STRK rewards due to following reasons

1. Delisting XCN marketing
XCN market is performing so badly since the listing in March, and the price of XCN token and market cap is downed more than 10 fold of their prior values at the time of listing. Especially current XCN market cap doesn’t meet the requirements of listing, and doesn’t show any sign of recovering.

XCN token CMC link here.

2. Stop borrowing STRK rewards and increase supplying rewards in STRK market.
Since the execution of SIP-33, STRK borrowing is disabled due to the borrow cap but some borrowers doesn’t repay their debts to receive borrowing rewards.

For sustainable STRK market and better token price management, I suggest to adjust the STRK supply & borrow rewards like below:

  • Current rewards
    supply : 58
    borrow : 134

  • Proposed rewards
    supply : 120
    borrow : 0

While total reward distribution to supplying and borrowing is reduced, it’s still much higher compared to other markets and it would incentivize to repay the debits and supply more STRK tokens. It is also expected to impact to the token price.

3. Withdraw ETH reserve
Withdraw ETH reserve for marketing activities.

Please vote.

1 Like

As I am user, I hope will add more big markets like TRX and ADA soon.
Other lending platforms like Compound listed these markets.

Can you share your opinion about the proposal?

what are the requirements for listing? I am not seeing any guidelines in the docs