Crucial Votes Now Open: BIP-0005 Emergency Deposit Pause and BIP-0007 Balancing Curves

Babel Fish
2 min readJun 8, 2023

We are happy to announce that the long-awaited moment has arrived. The voting for two crucial proposals, BIP-0005: Emergency Deposit Pause Feature (2nd approach) and BIP-0007: Balancing Curves, is now open! This marks a significant milestone in the development of our protocol and presents a unique opportunity for our community to actively participate in shaping the future of BabelFish.

You have approximately 24 hours to cast your vote and have a say in the direction our protocol takes. We had a minor delay in setting up the voting process, so voting will end approximately June 9th at 8 AM UTC.

BIP-0005: Emergency Deposit Pause Feature
This proposal aims to introduce an enhanced emergency deposit pause feature, further strengthening the security and resilience of our platform. It addresses potential risks and ensures greater control and protection for our protocol.

Vote on BIP-0005: Emergency Deposit Pause Feature
https://app.babelfish.money/bitocracy/governorAdmin/9

BIP-0007: Balancing Curves
The Balancing Curves proposal is another crucial step in optimizing the asset balancing within the BabelFish aggregator. It seeks to help balance stablecoin basket allocations, ensuring efficient and effective swapping between stablecoins. Initial parameters for the Balancing Curves are set to neutral state — including Max Reward and Max Penalty parametres. All Balancing Curves parameters will be determined in a separate vote next week, utilizing Bitocracy for decision-making and adjustment as we progress.

Vote on BIP-0007: Balancing Curves https://app.babelfish.money/bitocracy/governorAdmin/10

The simultaneous votes for BIP-0005 and BIP-0007 are a pivotal moment for BabelFish. We appreciate your active involvement and support as we shape the future of our protocol. Your votes play a vital role in determining our direction. Let’s come together, exercise our voting rights, and take BabelFish to the new levels!

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Babel Fish

BabelFish.money - stablecoin aggregator and liquidity provider. Issuer of XUSD - meta-stablecoin on RSK chain.