OIP-5: Lower LP Staking Rewards
Summary: We should decrease LP staking rewards now that the protocol owns the vast majority of the pool.
Background: LP staking was introduced at launch to help bootstrap liquidity before liquidity bonds were introduced. The protocol (between the treasury and what is being farmed on Onsen) now owns >83% of the pool. LP staking has gone from 80% of the liquidity to 16% today. However, we are still paying the same rewards as when we started.
Abstract: This proposal seeks to lower the LP staking rewards through a phased approach. Rewards would be lowered from 90 OHM per day down to 45 OHM per day. Two schedules have been proposed for getting there:
Schedule Option 1: Day 0: Proposal passes Day 1: Rewards from 90 -> 80 Day 5: Rewards from 80 -> 65 Day 9: Rewards from 65 -> 45
Schedule Option 2: Day 0: Proposal passes Day 1: Rewards from 90 -> 80 Day 5: Rewards from 80 -> 70 Day 9: Rewards from 70 -> 60 Day 14: Rewards from 60 -> 45
Motivation: To utilize our funds efficiently, and to minimize the impact of a transition to lower rewards.
For: Option 1 For: Option 2 Against: Do not lower rewards
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x1512...10e684 | 4,681 | |
 0x9B94...4BE3Be | 1,562 | For: Option 1 |
 0x10DC...298d78 | 1,517 | |
 0xA9Cd...abe1a7 | 1,204 | |
 0xe6a6...67fB39 | 931 |
VOTE POWER
Proposal Status
- Thu April 29 2021, 11:00 pmVoting Period Starts
- Sun May 02 2021, 08:00 pmEnd Voting Period
Current Results
1-For: Option 1
1,706.383
2-For: Option 2
163.001