Indexed

Liquidity providers and single-sided stakers for NDX-governed indices have been quite vocal in Discord about the fact that the Masterchef currently does not have enough NDX to honour existing obligations, after the claiming of all of the initially transferred tokens from the Sigma committee upon the programs creation.

The Snapshot vote https://gov.indexed.finance/#/proposal/0x2b68e76b974b0ade00c8717f1fbd72b909daf32f1ddb3eaee0934f7a5136d511 that ran between the 10-17th of January to transfer an additional 600,000 NDX to the Masterchef staking contract from the Treasury passed in favour, but with only 34.5K NDX votes cast.

This is less than 10% of the on-chain quorum for Governor Alpha, and as such cannot be considered to have a true consensus gathering exercise. Prior to putting forward a Governor Alpha vote, it would be ideal if the DAO confirmed - with a larger voice - that it wishes for the continuation of the Masterchef liquidity rewards program to take place.

So, the question is, once again:

Should the DAO:

• Continue the liquidity program as it is by moving 600,000 NDX from the Treasury to the staking contract, which will cover all existing obligations owed to liquidity providers and further ones until early July 2022?

or

• Terminate the program prematurely, moving over just enough NDX to meet current obligations and then ending rewards for liquidity provision in its current form. We would have to calculate how much NDX this would be exactly, but estimate it would be upwards of 300,000 NDX.

This vote will run for 3 days (as it is a repeat of a previous vote, and the community has proven significantly more active in light of recent price action).