Here is the link to the previous unsuccessful proposal: https://bifrost.subsquare.io/democracy/referenda/92.
After discussions, we have made revisions to the proposal and are reapplying. The main modification this time is the adjustment of the farming ratio: farming BNC 60% → 50%, and BNC exchange to vDOT 40% → 50%. We hope that these adjustments will allow BNCS to gain more sustainable income and facilitate continuous development in the future.
Farming duration: 6 months
Total planned rewards:
146,028,427,174,824,000 BNC (12 decimal places)
9,372,664,183,041 DOT (10 decimal places)
Expected start time: Start immediately after the proposal is approved
The BNCS farming lock-up period: 201,600 (28 days)
In general, the BNCS team plans to reward BNCS holders by returning 50% of the BNC transaction fees consumed by BNCS through farming. In addition, 50% of the BNCS will be exchanged for vDOT and the expected DOT yield from vDOT will be distributed to BNCS holders through farming.
SubSquare is a website that allows people to vote on proposals. They made a proposal before, but it didn't work out. Now they have made some changes and are trying again.
The changes they made are about how much of a certain type of cryptocurrency people can earn by using SubSquare. They hope these changes will help SubSquare make more money and keep improving.
People can earn two types of cryptocurrency by using SubSquare: BNC and DOT. The proposal says that people can earn a lot of these cryptocurrencies over a period of 6 months.
The proposal also says that people who have BNCS (another type of cryptocurrency) can earn even more BNC by holding onto their BNCS for a certain amount of time.
Overall, the proposal is trying to make SubSquare better by giving people more ways to earn cryptocurrency.