Admin Controls

MEV bot

The MEV bot will be admin controlled, initially, in order to maximise boxETH upwards buying pressure from the stETH to boxETH conversions and to not leak any value which could be captured and converted into upwards price pressure for boxETH.

In the future, it will be moved to an anyone can push the button scenario when a proper solution is implemented by the team where no/or little value is lost when allowing anyone to do the conversion.

Fee control gauge

At launch there is no data on whether the low fee of 1% that has been set at launch is an optimal configuration. We shall continue to collect data from protocol usage and boxETH market prices that develop from trading behaviour. It would then make sense to create a self-balancing system where the fee is increased when boxETH unpegs and lowered as boxETH returns towards its peg.

Another contributing factor is discouraging boosted yield mercenaries who exploit the higher yield without taking on any debt. A higher fee will deter this type of behaviour.

A move to full decentralisation of this parameter will be achieved when the fee is controlled by an immutable smart contract. This contract will be integrated when the team has enough market driven data to build it in the most optimal way.