SIP-14: Increase SPA/USDs Liquidity Mining Incentives

Author(s): Twitter user @AvaxGems Reference: Forum Discussion Created: 10/07/22 Labels: #LiquidityMining

Simple Summary

On Oct 6th, SPA/USDs trading volume did over $430K in 24 hours, 4th most among all Arbitrum native tokens only behind GMX, DPX, and rDPX. However, these three tokens each has at least $5.9M liquidity on-chain, and SPA only has around $450K at the moment. Low on-chain liquidity has been a known issue for the SPA token, many investors hesitated to invest in SPA, and low on-chain liquidity has been their main concern. This proposal suggests increasing the SPA/USDs liquidity mining incentives by 50% to deepen its liquidity on Arbitrum.

Motivation

Bring more SPA liquidity on Arbitrum, encourage on chain trading, and interacting with the Sperax protocol.

Technical Specification

Increase the total SPA rewards to the SPA/USDs farm from the current 373.33K per week to 560K. Aiming for around 120-150% no lockup APR, 225-275% lockup APR, or at least $1M liquidity on Arbitrum.

Voting

Yes: Approve increasing SPA/USDs UniV3 farm emission by 50% immediately

No: Reject increasing SPA/USDs UniV3 farm emission

start

October 10, 2022

4:16 PM

end

October 13, 2022

4:16 PM

Voting

off-chain

Voting type

single-choice

Voters

165

Votes

97,083,699

Final Votes

closed

Yes

21.9M veSPA

22.53%

75.2M veSPA

77.47%

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voters

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TICKER

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