IMC 2022/10/27-2022/11/24 budget

Hi everyone, it’s that time again…
To make life slightly easier for myself I’m literally taking a screenshot of the budget from the IMC tracking sheet.



  • I’ve been a little surprised at getting low traction on the co-incentives thing. This is “ok” but more outreach to other communities is probably what’s needed to (A) teach them about how using rETH reduces their liquidity mining spend and (B) let them know that we’ll toss in some free money.
    • Please post to #rETH Liquidity Incentives if you’re up for doing legwork here (finding DAOs that liquidity mine, joining their discords, talking to them, etc)
  • @knoshua posted an interesting note about rETH LPs demanding higher APR than stETH or wstETH LPs. Some interesting conversation on discord and something to keep an eye on.
  • Concentrated liquidity trial took a little longer to get going than hoped, but I think we’re on schedule to get going early this coming period
  • PoL hasn’t happened yet - it’s not been given a ton of priority. We have learned more about how to execute on it, so I suspect we’ll get there soon.
  • Arbitrum balancer hasn’t launched - we’ve asked Chainlink to provide the requisite rate provider instead of making it ourselves like we did for Optimism.
  • Balancer launched rETH/bb-a-USD incentivized pool – both of the assets are yield bearing and there’s voted BAL emissions on top, so this is an exciting pool long term in terms of sustainability without infinite IMC push.
  • We are planning to provide some incentives to rETH/RPL. It is not obvious whether this is part of the IMC’s current mandate, and it was discussed somewhat on discord. Since there was contention, I’ve put a suggestion into the budget (100 RPL per fortnight) but will change it based on the poll below.
  • 100 RPL per fortnight for rETH/RPL is within the IMC charter
  • 100 RPL per fortnight for rETH/RPL is not within the IMC charter, but 50 RPL per fortnight is justified
  • No funds for rETH/RPL are justified given the current IMC charter

0 voters


See the IMC metrics dashboard at IMC

  • Our top metric (1% price impact) continues to improve
    • It’s getting a bit worse on Optimism (please read the legend on the chart though - everything’s scaled up to plot similar to mainnet)
  • Our peg is super
  • Total liquidity may be flattening at these incentive levels and current market responsiveness?