Earlier today I was selected as the IMC treasurer today, so you’ll be hearing from me roughly every 2 weeks to provide our forward-looking budget and retrospective report on each rewards period.
The budget should be 1 week before the rewards period. We missed the mark here due to being new and not well organized. We’ll aim not to spend any money for one week from this post to keep the spirit of the idea intact.
We’re slated to receive 5255.5 RPL this rewards period from the pDAO.
Additionally @thomasg has very generously offered to match our premerge incentives and then provide ramping down his contribution. In total, this will be 5255.5 RPL (matching a full reward period!). 4175.5 of Thomas’ RPL will go into the 9/1-9/29 budget (bringing us up to 9431 RPL), with the remaining 1080 RPL becoming available in the next period.
- 3500 RPL for bribes via hidden hand for rETH/WETH on mainnet balancer; rewards go live 9/8
- 200 RPL for bribes via hidden hand for rETH/WETH on optimism BeethovenX/balancer; rewards go live 9/14
- 3500 RPL for bribes via hidden hand for rETH/WETH on mainnet balancer; rewards go live 9/22
- 200 RPL for bribes via hidden hand for rETH/WETH on optimism BeethovenX/balancer; rewards go live 9/28
- 400 RPL for concentrated liquidity trial
- We haven’t pinned this down, but would like to try something
- See Uniswap V3 rETH Incentives for one proposed trial (this one is a 10-week trial using xToken)
- Mav is talking to Arrakis. IMC doesn’t have details, but that might be an option if they can support incentives.
- Range is actively being discussed, -2% to +2% or -1.5% to +1.5% have had the most traction so far (percent from the burn/mint rate).
- The IMC is not yet sure how to execute on this trial in a way that we’re confident about. We will not spend funds unless we become confident, so they may roll over.
- 1631 RPL for co-incentive programs with other tokens
- Eg, if TokenX was incentivizing TokenX/WETH, they’d move some of their incentives to TokenX/rETH
- We’d match 10% of those incentives
- We’re thinking 100-200 RPL per protocol, though we might go higher if the opportunity makes sense
- They’ll get more bang for their buck by pairing with rETH, and we’re sweetening the pot even more by co-incentivizing
- If we have left over, carry forward
- The budget laid out above is meant to represent our best current belief about what we’re likely to do. It’s not written in stone. As we go, we’ll be looking at the results we get and learning more about possible opportunities.
- Optimism grant incentives are expected to come online later this period; these won’t be managed by the IMC, but we’ll coordinate as makes sense.
- Thomas has also offered to provide the equivalent value in ETH instead of RPL. I went with RPL above, but we haven’t yet made a decision on this.