Bind Referral Reward to 1% Payback
Proposed to adjust the referral reward amount:
- Bind the referral reward amount to 1% payback from the staked amount. Referral reward amount in LDO to be calculated each payout week based on ETH/USD and LDO/USD 14 days (whole referral period) TWAP to be 1% payback;
- Limit minimum referral amount to 5 LDO for 1 ETH staked.
- Limit maximum referral amount to 20 LDO for 1 ETH staked. Updated reward amount to take effect at the next referral period after DAO voting.
Link to the forum discussion: https://research.lido.fi/t/bind-referral-reward-to-1-payback/1021
Motivation Currently, the referral reward amount is 15 LDO for 1 ETH which is 2.4% payback (based on 14 days TWAP of LDO and ETH, see calculations below). Initial payback was ~1% at the date of the referral program launch. The referral reward amount is the key parameter that needs to be adjusted. Linking referral reward to 1% payback will help to use the rewarding budget most effectively, make the calculation process clear and transparent, keeping the referral program profitable and reaching the goals.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xE017...184e63 | 20M | Bind Referral Reward to 1% |
 0xcC18...952575 | 20M | Bind Referral Reward to 1% |
 0x4580...6B5f81 | 20M | Bind Referral Reward to 1% |
 0x22aA...E91D69 | 7.5M | Bind Referral Reward to 1% |
 0x1109...CC43dA | 2.042M | Bind Referral Reward to 1% |
VOTE POWER
Proposal Status
- Tue September 07 2021, 12:15 pmVoting Period Starts
- Sat September 11 2021, 05:20 pmEnd Voting Period
Current Results
1-Bind Referral Reward to 1%
69.729M
2-Leave static 15 LDO reward
1,965