​Evmos Proposal #109 was passed on 2023.01.25 to grant 1M EVMOS to SpaceFi as liquidity incentive.
As in the proposal, we'll launch a non-tradable reward token, xEVMOS, converted 1:1 from the EVMOS granted by Evmos community pool. The reward earned in farm is xEVMOS, which can be converted back to EVMOS with a 30 days unbonding period.
Users can also choose to unbond xEVMOS immediately, which will only convert back to 50% in EVMOS. The other 50% will be transferred back to the multisig address of requested EVMOS, which can make the incentive program last longer.
With xEVMOS, we can reduce reward spending and dumping while maintaining an attractive APR and incentivizing long-term holders. The liquidity incentive can last more than 90 days if some users choose to unbond xEVMOS immediately.