Keeper DAO

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This is an apparent consensus vote.

• Vote ‘No objection’ if you agree with the proposal.
• Vote ‘Object’ if you disagree with the proposal.

Discussion

• Github
• Forum discussion
• Discord

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Proposal

This proposal aims to reduce daily ROOK emissions to the Hiding Vaults by 75% through the end of Act IV.

Specification

Before block 13468133:

1. Mint 1299.375 ROOK
2. Transfer the minted ROOK to the Hiding Vault distributor contract 0xae7b93a591c37ea37ed8bc7b6b999c85f2ed2405.
3. Reduce the per-block reward factor for Hiding Vaults by 75%.

Background

Now that the Hiding Vault has been established as an enhanced lending protocol, both in total value locked (TVL) and total amount borrowed, I proposing that we reduce the amount of ROOK that is emitted to users of the Hiding Vault.

• Hiding Vaults already receive significant benefits from Compound (interest and COMP distribution) and JITU (liquidity buffer). The ROOK rewards should be some (light) icing on the cake.

• Hiding Vault rewards are not currently motivating users to take positions that create MEV. Until we are able to dynamically distribute rewards to different assets in an effort to dissuade same token supply and borrowing, the Hiding Vault will not be utilized to its full potential.

For reference, here is the current remaining emissions for the last quarter of Act IV:

Name	Percentage	# ROOK this Act	# ROOK per day
Hiding Vault	40	5197.5	231
Hiding Game	40	5197.5	231
Liquidity Pools	20	2598.75	115.5
Total	100	12993.75	577.5

Note: Hiding Game and LP emissions have been fully minted for Act IV and cannot be adjusted until the beginning of Act V.

Assuming that this could go live right as the third quarter of Act IV’s emissions for Hiding Vault that were minted run out, the final proposed ROOK rewards for Act IV’s final quarter would be:

Name	Percentage	# ROOK Remaining	# ROOK per day
Hiding Game	40	5197.5	231
Hiding Vault	10	1299.375	57.75
Liquidity Pools	20	2598.75	115.5
Not Minted	30	3898.125	0
Total	100	12993.75	462