Proposal Summary

XIP-56 provides an update to "Memecoin Madness".

Specification

Overview

As crate opening has been enabled on Infinex, it is now apparent that users are recieving a high amount of boosts, which make the 25% boost incentive for depositing memecoins not as strong as before.

In order to better encourage memecoin deposits, Infinex aims to increase the 25% boost incentive to 100%. This means, each day for a week, two memecoins will battle for the highest TVL. Users will have 24 hours to deposit into their Infinex Account, the memecoin that wins will qualify for a 100% deposit bonus for the rest of Craterun.

Rationale

Infinex has distributed a large amount of boosts already, which means the incentives for Memecoin Madness will no longer be as effective. As such, this XIP aims to rectify this.

Technical Specification

Infinex will need to update the backend code to grant users a 100% boost on the winning memewar, memecoin deposit bonus, instead of the prior 25%.

Copyright

Copyright and related rights waived via CC0.