Aavegotchi

Authors: Dr Wagmi#6629, MoonGotchi#1234 GotchiIDs: 16635, 3541 Quorum requirement: 20% (9M) Vote duration: 7 days XP Reward: 20 XP for each Aavegotchi in the voter’s wallet Discourse Thread: https://dao.aavegotchi.com/t/sunset-frens-by-october-1st/4255

I propose that we cease FRENS emissions immediately. FRENS emissions have been used as a liquidity mining (LM) incentive by providing GHST holders and liquidity providers access to future content through the raffle system. While this was an initially effective tool for LM, it is now doing more harm than good. Outlined below and in the forum thread are the reasons why Aavegotchi should sunset FRENS:

I propose that we alter GLTR emissions to optimize GHST liquidity and support the sunsetting of FRENS as outlined in the “Sunset FRENS” signal proposal here: https://snapshot.org/#/aavegotchi.eth/proposal/0x0ad57c0cffa815efcc3f41afac774245777f4bae11fee8d0c0ea956ce34a2427.

The above proposal and this one will accomplish the following:

• Retire the GHST-QUICK liquidity pool liquidity mining rewards (currently FRENS)
• Retire the GHST-WETH liquidity pool mining rewards (currently FRENS)
• Retire the GHST-MATIC liquidity pool mining rewards (currently FRENS + GLTR)
• Add 5% weight to the GHST-USDC LM rewards (taken from GHST-MATIC) for a total of 20%
• This consolidation will maximize our most successful pool in GHST-USDC. It will eliminate rewards for unpopular pools and help grow our most successful pool. The GHST-WETH pair was borne from the Dinoswap pool which is a failed project. The GHST-MATIC pair is the only one on SushiSwap which is an inactive exchange on Polygon. Neither project offers ongoing LM incentives. The increase in GHST-USDC LM rewards is necessary to offer compensation for the impermanent loss risk incurred by the pair, otherwise single-sided staking for wapGHST will be prioritized and not afford further depth in the GHST-USDC pool. Below is the chart with highlighted changes to GLTR emissions and resultant estimated APYs.