OOKI

This proposal will be implemented ONLY when all of the following are complete:

-The new Interest Rates Model is implemented on all chains -There is adequate liquidity for traders on ALL chains that the product has been deployed -The limit orders feature has been completed and implemented for users on all chains

Under the proposal, traders on Ooki Protocol will receive rewards paid in OOKI as follows and the following features will be implemented by the dev team:

-A Dashboard for users to see the (estimated) OOKI rewards and rewards points accruing for their wallet in realtime, similar to DyDx. Dashboard would show fees which would be proportional to the percentage of trading fees paid (because the traders will be sharing a fixed pot of 30m OOKI per month) and not USD value. This means you cannot calculate an estimate for the current season until it is complete. It will have to be an estimate based on the previous season’s volume.

-30m OOKI per month in total (across all chains) as rewards will be approved by the DAO ( can be changed by future DAO votes). Each month will be a “season” and rewards and trading will be calculated on the basis of each season. Rules once implemented will not change for each season but can change for the next season.

-For the first season, 12m OOKI will go to Arbitrum, 10m to Polygon, 6m to Ethereum and 2m to BSC. However, the DAO team will have the authority to adjust the split between chains at the end of each rewards season/month without a DAO vote after Month 1, to maximize protocol usage and fees, including reducing total rewards (but increasing total rewards beyond 30m will require a further DAO vote).

-There will be no lockup on rewards - those who receive rewards can stake them or sell them immediately.

-Rewards will only be paid to wallets who trade on Ooki and pay trading fees and will be calculated on the basis of trading fees only (not to borrowers or those who pay origination fees and interest for loans, including flash loans - of course, most traders will also be borrowers, but the rewards will be calculated based on trading fees alone).

-In essence the monthly reward pot of 30m OOKI will be paid out at the end of each month to traders on Ooki who paid trading fees, in proportion to the amount of trading fees paid - each wallet will receive OOKI rewards and share in the monthly pot in proportion to the percentage of trading fees it paid in the relevant month.

-In addition to this, to give the OOKI token more of a use case and utility, a new feature will be implemented to give discounted trading to those who pay trading fees in OOKI (similar to how BNB can be used to pay discounted fees on Binance). Anyone paying fees with OOKI will receive a 30% discount on all fees (borrowing, trading, everything). If this is technically difficult to implement, it may be necessary to implement this as a 30% rebate paid at the end of the month to wallets that held sufficient OOKI for fees and traded in the previous month (but in that case, the 30% rebate is a separate calculation and will be in addition to the 30m OOKI trading rewards pot).

-This rewards proposal relates to OOKI use case and trading fees only. Rewards for increasing liquidity (in OOKI/ETH or any of the OOKI liquidity pools) are a separate matter and to be dealt with separately as needed.