Find Out What’s New with the Babelfish Protocol — Exciting New Proposals and Voting Updates
TL;DR:
- Two new draft proposals published: BIP-0006 and BIP-0007
- BIP-0006 aims to add DLLR and migrate DOC and ZUSD liquidity
- BIP-0007 proposes lending out DLLR to generate yield
- New delegate introduction category on Babelfish forum
- BIP-0005 vote update: Emergency Deposit Pause Feature faced technical issues
- Team exploring alternative voting methods like snapshot.org
Discover how Babelfish Protocol’s latest community update brings innovative proposals and crucial voting updates that could shape the future of decentralized stablecoin swapping. In this report, we will dive into the details of the new proposals, delegate introductions, and the BIP-0005 vote update.
New Proposals: BIP-0006 and BIP-0007
Two new draft proposals have been published in the Babelfish forum:
- BIP-0006: Add DLLR and Migrate DOC and ZUSD Liquidity aims to swap DOC and ZUSD deposits for DLLR, providing direct exposure for users willing to swap their centralized stablecoins to Sovryn Dollar through the BabelFish aggregator.
- BIP-0007: Lending Out DLLR to Generate Yield proposes to lend out a portion of BabelFish’s collateral DLLR on Sovryn’s lending pool. Both proposals bring significant value to the project, and the community is encouraged to participate in the discussions and provide feedback.
Delegate Introductions
A new category on the Babelfish forum allows users to introduce themselves as delegates. This comes in the wake of the unfortunate outcome of the BIP-0005: Emergency Deposit Pause Feature vote, enabling community members who cannot vote in person to select delegates to represent their interests in Bitocracy votes.
BIP-0005 Vote Update: Emergency Deposit Pause Feature
Despite having 100% support, BIP-0005 failed to reach quorum due to some unfortunate issues. The Bitocracy platform went down for a few hours during the vote, and some hardware wallet users were unable to cast their votes. The team is investigating these issues and exploring alternative voting methods like snapshot.org.
Stay tuned for more updates and thank you for your continued support and participation in our community. For further details, visit the original article here.
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