The Explanation on the Change of Newdex BOX Token Feedback Method

Dear users,

Hello! The Defibox DIP21 has been voted successfully at 09:00 (UTC) on December 11, 2020, which involves the change of the BOX token feedback method. Newdex made the following explanation:

After the implementation of BOX DAO DIP21, the feedback method to Newdex of BOX token is 10% of revenue from the Defibox protocol. For this part of revenue, Newdex will use all of them in NDX token buy-back and burning, and it will be announced.

The BOX DAO DIP20 has been voted successfully, and the BOX staking reward is about to be cancelled. The previous practice of using staking reward by staking BOX to buy back NDX will not be executed after the DIP20 is officially implemented. After the BOX staking reward is cancelled, Newdex can only sell BOX regularly to continue buy back NDX. This approach is not conducive to the development of BOX token, contrary to the original intention of development together, and it does not conform to Newdex's concept of funding Defibox.

Therefore, after communicating with Defibox, and after the BOX DAO proposal is successfully voted, Newdex is willing to accept another way to obtain BOX token reward, that is, obtained BOX token, BOX staking reward and 7.5% of BOX token release amount in the future will be swapped for 10% of Defibox protocol revenue. In the future, Newdex will develop together with Defibox to prosper the EOS ecosystem together!

Thank you for your attention and support to Newdex!
Newdex Team
December 11, 2020

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