Gearbox DAO

Proposal

Commit 3.33m GEAR/month to liquidity mining the GEAR/ETH Curve V2 pool created by the Cider’d Liquidity Bootstrap, beginning when the fair trade period begins. Liquidity mining program is to last for 4 months, OR until modified by another governance proposal.

Context:

LPers for Cider’d liquidity and beyond likely will want some assurance that they will get liquidity mining rewards, given there is no guarantee of fees for LMing from the Cider’d approach.

3.33m GEAR at $0.015 at $3m of liquidity amounts to an extra 20% of APR on top of Cider’d fees. $3m of liquidity would be reasonable enough, especially some initial sell pressure absorbed by Cider’d. This would amount to 0.0333% of supply per month or 0.133% of supply over 4 months.

Once Cider’d is over and liquidity mining is live, the DAO can evaluate additional liquidity pools on Balancer, and/or paired with the Frax Base Pool. The DAO could also pursue gauges for these pools, which would make bribing an option. This process will also come with better liquidity data (since the token and liquidity mining will be live), thus a future proposal may wish to modify the liquidity mining program. This proposal encourages that option while still giving LPers confidence that LM will remain in place for a reasonable amount of time if progress is slow or if these additional options aren’t pursued.

Voting

Vote is simple For or Against (HUZZAH):

1. FOR - Liquidity mine with 0.133% of supply over 4 months (3.33m GEAR/month)
2. AGAINST - Do not liquidity mine with 0.13% of supply over 4 months