DODO Temporarily Halts vDODO Token Reward Distribution and Redemption Charges
In Brief
DODO plans to cancel vDODO redemption fees starting November 8 at 1:00 PM and will temporarily suspend the distribution of vDODO rewards from January 1, 2024.
The DODO community has recently approved a proposal titled “Temporary Pause of DODO Community members supported the proposal titled 'Temporary Halt on DODO Emissions in vDODO Staking Pool to Curb Inflation and Support Long-Term Stability,' which aims to put a hold on the issuance of vDODO tokens within the staking pool. The goal is to reduce inflation and enhance the community's long-term viability.
As a result of this decision, the community announced significant changes: effective November 7, 2023, at 11:59 PM EST, all fees associated with vDODO redemption will be waived. Additionally, from December 31, 2023, at 11:59 PM EST onward, DODO emissions in the vDODO will be completely stopped. staking pool .
The community has expressed rising concerns over the inflationary pressures stemming from current DODO token emissions. They highlighted the urgent need for action to tackle these issues, aiming to create a positive impact for every stakeholder involved.
Attention, CommanDODOs! We have some significant updates regarding vDODO emissions and the associated redemption fees.
— DODO 📜 Cross-Chain DEX Aggregator (@BreederDodo) November 7, 2023
The proposal for a 'Temporary Suspension of DODO Emissions in the vDODO Staking Pool to Address Inflation and Promote Long-term Stability' passed with overwhelming support from the community.
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Despite the halt on DODO emissions, the 15% trading fee for buybacks of DODO and the subsequent monthly distribution to vDODO holders will continue as before.
The team remains vigilant about the market's status and is prepared to adapt. They describe the pause in emissions as a temporary strategy. Any future adjustments, including the possible restart of emissions or an updated model, will be put up for community review and consensus. tokenomics The DODO team has urged its community members to stay actively engaged as they address the present challenges.
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