Author: filipv
Date: 2023-03-18

Specification#

Next cycle, the multisig should set the discount rate to zero and set the total JBX issuance rate to 60,000 JBX / ETH.

Motivation#

JBX issuance is currently 59,180 JBX / ETH. The lower JBX issuance goes, the less JBX is sent to project creators who pay fees and reserved JBX recipients. Issuance to these two groups are both beneficial for community cohesion and the distribution of voting power. JBX has been trading at ~1m JBX / ETH on Uniswap, making current issuance mostly irrelevant.

We should turn off the discount rate for now, and can turn it back on once the Juicebox community grows and secondary demand for JBX increases.

Risks#

By setting the discount rate to zero, JuiceboxDAO will no longer favor current contributors over future ones. This will reduce the incentive to get involved now. Due to the comparatively low issuance rate (when compared to the secondary exchange price), I don't think this is a huge risk.