Indexed

The Indexed DAO has voted via Snapshot (https://gov.indexed.finance/#/proposal/0x1700ebddcf8343700c66973ce2396c944ca347d3ef6826588d99146be118e791) to end the current implementation of the Indexed liquidity mining program.

This proposal implements that decision, in the following way:

• Approves MultiTokenStaking contract to spend Treasury NDX
• Transfers 322,611.70914468578 NDX from the Treasury to MultiTokenStaking
• Sets the ‘early end block’ to 14,360,000 on the Masterchef

The reason for the transfer of NDX is that when MultiTokenStaking (representing the liquidity program) was created, only 527,500 NDX tokens were moved into it: this was the balance of the Sigma Committee’s allocation of NDX for incentivising liquidity provision for new index pools.

Per the emissions curve, these tokens were fully allocated in late October, allowing the DAO to take stock of the program and determine whether it should continue. Due to externalities, this decision was delayed, although the emissions have continued: the transfer of 322,611.70914468578 NDX tokens represents the full balance owed by the DAO to liquidity providers under this emissions curve up until approximately 2 PM UTC on March 10 (https://etherscan.io/block/countdown/14360000).

Should this proposal be passed and executed, everyone who has provided liquidity up until that point will be able to withdraw their accrued NDX rewards in full, and thereafter should remove their single-sided or LP tokens from the Masterchef.