Staggered Withdrawal of Boardroom Rewards

Currently, the instant release of seigniorage at epoch time results in heavy MIC sell pressure that the system is unable to absorb. The V2 Boardroom will be upgraded as follows.

Seigniorage rewards will still be released every 6 hours, but a record will be kept and withdrawals will be taxed if done within 5 days:

  • 24 hours — 50% tax

  • 48 hours — 40% tax

  • 72 hours — 30% tax

  • 96 hours — 20% tax

  • 120 hours — 10% tax

  • Above 120 hours — 0% tax

Taxes collected from early withdrawals will be immediately distributed:

  • 50% distributed back to MIS Boardroom stakers

  • 50% burnt

We believe that this combination will result in smoother seigniorage events and also provide an added incentive for MIS Boardroom stakers.