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Title: [ARC] LDO Emission_Admin for Polygon v3 Liquidity Pool Author: @llamaxyz @MatthewGraham Dated: 2022-11-05

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Simple Summary

In preparation for distributing incentives on the Aave v3 Polygon Liquidity Pool, @llamaxyz proposes amending the Emission_Admin address to enable the distribution of LDO rewards.

Abstract

In collaboration with Lido, Llama seeks to distribute LDO incentives to the stMATIC Reserve on Polygon Aave v3. In order to achieve this, the EmissionManager contract needs to assign an owner to the Emission_Admin permission allowing LDO rewards to be distributed, [1,2]. This can only be achieved via the governance process.

This proposal assigns the Emission_Admin permission to LDO rewards to the following address 0x87D93d9B2C672bf9c9642d853a8682546a5012B5. This address is controlled by Lido.

Motivation

The motivation of the proposal is to enable LDO rewards to be distributed on the Polygon v3 Liquidity Pool.

Specification

The Lido Liquidity Mining Committee determines the emission rate and duration at which LDO rewards are offered. Standard practice is for the council to meet and determine the next 30 days of LDO rewards on a rolling basis. This means each month, the committee will determine if to extend the LDO rewards, or change the amount of LDO being offered across the Polygon v3 Liquidity Pool.

The Emission_Admin is not limited to a specified Reserve and is linked to the token being distributed across the Liquidity Pool. The EmissionManager determines the LDO Emission_Admin and not the stMATIC Reserve. The Emission_Admin can distribute LDO anywhere across the Aave v3 Polygon Liquidity Pool.

Implementation

Set Emission_Admin permission for LDO on the Polygon v3 Liquidity Pool to Lido’s address: 0x87D93d9B2C672bf9c9642d853a8682546a5012B5

References

[1] https://docs.aave.com/developers/guides/governance-guide/rewards#create-proposal [2] https://github.com/aave/aave-v3-periphery/blob/master/contracts/rewards/interfaces/IEmissionManager.sol [3] https://polygonscan.com/token/0x3a58a54c066fdc0f2d55fc9c89f0415c92ebf3c4 [4] https://polygonscan.com/token/0xc3c7d422809852031b44ab29eec9f1eff2a58756 [5] https://creativecommons.org/publicdomain/zero/1.0/

Copyright

Copyright and related rights waived via CC0, [5].