closedEnded 3 years ago · Snapshot (Offchain)
Move LP rewards formula weight from stkDYDX to MakerVolume
By 0xDf71...519F2cContinue Reading
Overview
- DYDX token holders recently voted to wind down the safety staking module. This passed both off-chain snapshot and on-chain vote.
- With the safety staking module being wound down, it makes little sense to keep the stkDYDX terms in the LP rewards formulas.
- Each market’s LP rewards formula contains a 0.05 weight on
stkDYDX; we propose that each formula’sstkDYDXweight be redistributed to theMakerVolumeterm.
Explicit changes (see attached image)
- Change the
Q_{BTC}formula to have[MakerVolume]^0.85and remove the[stkDYDX]^0.05term. - Change the
Q_{ETH}formula to have[MakerVolume]^0.85and remove the[stkDYDX]^0.05term. - Change the
Q_{non BTC/ETH}formula to have[MakerVolume]^0.65and remove the[stkDYDX]^0.05term.
Implementation
These changes do not require an on-chain vote, since they only affect the off-chain rewards calculation.
Voting options
- Yes: make the explicit changes listed above.
- No: do nothing.
Links
Connect Wallet to Add Note
0Votes 899
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 Reverie | 9.329M | Yes - make changes |
 Wintermute Governance | 4.072M | Yes - make changes |
 FranklinDAO (Prev. Penn Blockchain) | 2.504M | Yes - make changes |
 0xbb73...b1eC25 | 63,305 | Yes - make changes |
 0xb760...f0f9c1 | 26,211 | Yes - make changes |
VOTE POWER
0
Connect Wallet
Proposal Status
- Tue December 06 2022, 06:39 pmVoting Period Starts
- Sat December 10 2022, 06:39 pmEnd Voting Period
Current Results
1-Yes - make changes
16.178M
2-No - do nothing
4,555.531