IIP-44: BTC2x-FLI Parameter Update #3

iip: 44 title: BTC2x-FLI Parameter Update #3 status: Proposed author: Allan Gulley (@allan.g) discussions-to: https://gov.indexcoop.com/t/iip-44-btc2x-fli-parameter-update-3/1554 created: May 19, 2021

Simple Summary

Raise the supply cap of the BTC2x-FLI from 200,000 units to 400,000 units.

Abstract

Adjust the following parameters on the BTC2x-FLI:

  1. Raise the supply cap to 400,000 units.

Motivation

The initial BTC2x-FLI launch employed a guarded roll-out to ensure stability because it is a riskier leveraged product. The initial supply cap was at 200,000 units and we are proposing that the supply cap is raised to 400,000 units.

As a point of reference, the supply cap for ETH2x-FLI was increased from 200,000 units to 400,000 units via IIP-30 for the same reasons as this proposal for BTC2x-FLI.

At time of writing (05/19/21 @ 9:00am US EST), the total unit supply of BTC2x-FLI is ~139,000, which represents ~70% of the current supply cap. For this reason, we recommend raising the supply cap to 400,000 units.

Copyright and related rights waived via CC0.