GFI Governance Vote

Proposed Admin Fee Changes

We are happy to announce the first official GFI Governance vote.

What is the Vote for?

This proposal seeks to change how the platform fees are handled and distributed to better facilitate the needs of the platform at this time.

Currently all admin fees are split 50/50 into wETH and wBTC. The wETH is available to claim at any time and the wBTC is held in the Governance contract as “backing” and is only accessible through burning a disproportionate amount of GFI.

As Gravity moves towards a time where admin fees are expected to be substantially higher, using these fees for the following purposes could benefit the ecosystem as a whole.

There are several options to pick from, each one is described/explained on the vote page (link below).

How the Vote Works:

A Ranked voting method is applied and voters must rank ALL options in order of preference.

For this Governance vote we are using Snapshot.org

The snapshot for voters was taken at block number 39,373,896

Voting is due to end on 20th February 2023 at 10:30pm UTC.

To be eligible to vote, you must have held GFI tokens at the time of the snapshot. Tokens held in a personal wallet that you control, as well as Liquidity Provider (LP) tokens count towards this vote.

Where to Vote:

To vote, visit https://snapshot.org/#/gravity-finance.eth and connect your wallet, you will see your vote weight and can vote for your choice on the proposal. Remember you need to rank ALL of the choices in your order of your preference.

Note: Project owned/controlled wallets (such as the treasury, faming allocation etc) and the Founder allocated GFI will abstain from this vote.