ICCP - XXX Threshold Changes to IIP-22 Revenue Distribution

[fickle patrol]

https://docs.google.com/document/d/1c9XK9l4keGWN4gTg5nC5sfhcUhf8AUGs2_mDyWXZB0E/edit?usp=sharing

Summary

This ICCP intends to recalibrate the minimum ETH threshold required to trigger revenue distribution from the current 500 ETH to 150 ETH. The primary aim of this change is to increase the frequency of buybacks and reduce the likelihood of frontrunning, thereby enhancing the efficiency and fairness of the revenue distribution process.

Implementation:

IIP-22 Revenue Distribution:

R(min): The minimum daily revenue distribution.

X    X    X

R(min): 500 ETH

Changed to:

R(min): The minimum daily revenue distribution.

X    X    X

R(min): 500 150 ETH

Rationale

By modifying the current revenue distribution mechanism by lowering the minimum ETH threshold to 150 ETH. This adjustment is designed to achieve several key benefits: (1) it will increase the frequency of buybacks, which can help support the token's price and provide a more consistent return to investors; (2) minimize the risk of frontrunning, where traders exploit advanced knowledge of upcoming transactions to gain an unfair advantage; (3) improve overall market stability by creating more predictable and regular buyback events; and (4) enhance investor confidence, reassuring stakeholders of our dedication to maintaining a healthy and robust market environment;

Sponsor: ScrubaDubDad

Co-Sponsor: Kieran

[tepid osprey]

send it

[elder depot]

Sure

[serene smelt]

I think when it hits 500ETH they go in manually to buy back ILV in chunks and randomly.

Because it's not automated yet, that labor at 150 ETH has to be done more frequently.

150 ETH is great once it's automated with a random algorithm.

Overall great proposal and way better for volume too.

[celest osprey]

Hope this is being done in a smart way, lock in this months profits, use that eth to do daily buys next month. and so on. smooth everything out so frontrunning is just impossible and revdis becomes just a helpful hand for price to climb.
moving big chunks, will get noticed.

[fickle patrol]

IIP 22 is a bit lengthy but if you look at it, the ideal setup is really to spread it out in varying buy order amounts

[celest osprey]

Ye, once its automated it will be fine, just the initial stages have to be done in mindful way, thats all. im sure it will be fine.
last thing we want is revdis to work against us.

[tepid osprey]

Buy our bags

[fickle patrol]

@tepid osprey Github please weve crossed the threshold 😄

@tawny vortex I know youd appreciate this proposal so im tagging you

[tepid osprey]

LFG

[next jetty]

50 eth even !

[serene smelt]

The more often it gets paid out the more we lose to fees.

[lavish edge]

Up ⬆️

[tepid osprey]

uploading to github

ICCP-18
@dawn kestrel

[next jetty]

Network fee
0.001551 ETH

I'm ok with that honnestly, it's not 300$ fee like it was when the initial IIP was voted ....

[serene smelt]

Can they do batch transactions? Otherwise if they have to do thousands of transactions multiple times per year it'll add up and eat up our RevDis 😂

[next jetty]

303 eth to distribute

That would be 6*50eth = 30$

[icy siren]

Between 150-200 so it can be done at random intervals without wallet watchers trying to front run.

[fickle patrol]

Yes it doesnt necessarily trigger at 150 eth. Labs can do 200 or more too.