AMM incentives # 2
Proposal
This proposal is for the automated streaming of DYM tokens to liquidity providers of specified liquidity pools. This proposal sets out to release 250,000 DYM from the incentive manager with tokens distributed linearly over one month from the passing of this proposal. This is set to be released upon the completion of the current incentive distribution of 300,000 DYM.
Context
After the passing of Proposal # 4 we saw a steady increase in bridged assets to Dymension. A critical step to onboarding RollApps into the Dymension ecosystem is token accessibility. With RollApps scheduled to go live with the upcoming upgrade of the Dymension network, it is vital to retain bridged assets in the ecosystem and further grow the scope of assets covered.
In this proposal we aim to increase the amount of assets being incentivized (e.g. wETH, wBTC) and reduce the total amount of incentives being distributed. This manual process has been worked on with the assistance of Numia, a Cosmos based data and development platform. The automated process of DYM incentive distribution is currently in-progress and we aim for a Q2/Q3 release of DYM incentive distributions based on vote-escrowing DYM, more information will be provided in the near future.
Notable changes:
- Inclusion of ETH via Axelar
- Inclusion of BTC via Osmosis (BitGo)
- Reduction in stTIA and milkTIA. Both teams are incentivizing via STRD and Milkway point, respectively.
Proposed distribution
| Pool ID | Base Asset | Quote Asset | Total DYM Rewards | Change from previous month |
|---|---|---|---|---|
| 002 | DYM | USDC | 70,000 | -6.67% |
| 005 | DYM | USDT | 50,000 | 0.00% |
| 003 | DYM | TIA | 40,000 | -20% |
| 004 | DYM | ATOM | 40,000 | -20% |
| 006 | DYM | stTIA | 20,000 | -60% |
| 007 | DYM | milkTIA | 10,000 | -60% |
| 008 | DYM | BTC | 10,000 | n/a |
| 009 | DYM | ETH | 10,000 | n/a |
Governance votes
The voting period for this proposal as set on genesis is 5 days beginning from the time of deposit. The following items summarize the voting options and what it means for this proposal:
- YES
- NO
- NO WITH VETO - A ‘NoWithVeto’ vote indicates a proposal either (1) is deemed to be spam, i.e., irrelevant to Dymension, (2) disproportionately infringes on minority interests, or (3) violates or encourages violation of the rules of engagement as currently set out by Dymension governance. If the number of ‘NoWithVeto’ votes is greater than a third of total votes, the proposal is rejected and the deposits are burned.
- ABSTAIN - You wish to contribute to quorum but you formally decline to vote either for or against the proposal.
