Gearbox DAO

Summary:

Following the approval of the proposal to transition GEAR buybacks to Uniswap (https://snapshot.box/#/s:gearbox.eth/proposal/0xaf930dd571a05e150ebb29c32bad04299a21b5486257c67c42056e57b3e5edfb), there was initial discussion around the future of GEAR rewards on Curve. While it made sense to reassess the Curve pool incentives in light of this change, after brief deliberation community decided to maintain the current liquidity mining setup for now, in line with GIP-55 (https://snapshot.box/#/s:gearbox.eth/proposal/0x144f85ee48d3b3e9a76a8ad6cda9b0092c303c5b52851aac616a7745eea768e4), which allocates 6.66M GEAR to Curve LPs.

Context:

The Curve pool was originally incentivized to ensure deep and stable liquidity for GEAR. With buybacks now occurring on Uniswap, the long-term value of sustaining those incentives is worth re-evaluating. However, changing LM allocations is not something to rush—Curve continues to serve a purpose and remains a valuable liquidity venue.

Once Uniswap liquidity for GEAR reaches ~$1.5M, we propose re-opening the discussion (https://discord.com/channels/841203475606011905/1363759147610411068) around LM rewards. At that point, we can analyze whether Curve rewards still serve protocol interests, or whether resources should be shifted elsewhere (e.g., to deepen Uniswap liquidity or support other strategic pools).

For now, stability and predictability take precedence over optimization. No immediate changes are planned.