SIP-40: Allocate bribes to ARB-USDs and WETH-USDs farms

Author: Core team Reference: Gauge, ARB-USDs farm, WETH-USDs farm Created: April 8th, 2023 Labels: Liquidity Mining

Simple Summary / Abstract

Allocate 20% of SPA bribes budget for bribing SPA stakers voting for ARB-USDs (10%) and WETH-USDs (10%) Demeter farms.

Motivation / Overview

Bribes provided by the protocols owning farms on Demeter encourage SPA stakers (veSPA holders, liquidity directors) to vote for their farms. However, two important farms - WETH and ARB that were launched by Sperax DAO remain unbribed.

This makes liquidity mining of USDs in pairs with key Arbitrum ecosystem tokens WETH and ARB relatively less attractive in comparison to pairs with the tokens of individual protocols.

Thus, we propose to allocate 10% of SPA rewards budget for bribing ARB-USDs farm and 10% for bribing WETH-USDs farm, and proportionally decreasing the SPA reward budget allocated to other farms.

As for the WETH-USDs farm - given ETH appreciation, we offer to launch a new farm with improved broader price range that would optimize the farm efficiency.

Technical Specification

Allocate 10% weekly of SPA bribes budget for bribing the veSPA holders voting for ARB-USDs farm
Allocate 10% of weekly SPA bribes budget for bribing the veSPA holders voting for WETH-USDs farm with improved price range
Proportionally decrease SPA bribes allocated to other farms

Voting

For

Bribe SPA stakers (veSPA holders, liquidity directors) for voting in favor of ARB-USDs and WETH-USDs farms in the amounts of 20% (10% for each farm) of total SPA bribes budget reallocated proportionally from other farms.

Against

Don’t bribe the ARB-USDs and WETH-USDs farms.

start

April 10, 2023

4:32 PM

end

April 13, 2023

4:32 PM

Voting

off-chain

Voting type

single-choice

Voters

4,687

Votes

75,753,948

Final Votes

closed

For

72.4M veSPA

95.53%

Against

3.4M veSPA

4.47%

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%