Hi All - I’m back playing catchup again:
Period 13 report
- Raft jumpstart co-incentive
- Added the concept of capping our spend to ensure ~13 periods of runway. To keep this simple enough to work, we’re tweaking only our biggest expense (mainnet rETH/ETH bribe)
- Capped bribe at 37.5 ETH in latter fortnight
Period 14 budget
- Balancer RPC issues on zkEVM were preventing swaps, so we didn’t plan to bribe until that was fixed
- Caps expected around 33 ETH per fortnight
Period 14 report
- Balancer zkEVM swaps kicked back on, so our incentives did too
- Base rETH/WETH turned on at 1 ETH bribe/fortnight
- Actual caps at 33 and 32 ETH for each fortnight
Period 15 budget
- Caps expected around 33 ETH per fortnight
- Looking to buy some CHR to lock for more vote power on Chronos
Liquidity depth in this timeframe
Period 13 was from 8/3-8/31
Period 14 was from 8/31-9/28
- The big drop in liquidity predates our large step back in incentives, which should have hit near the end of August
- Optimism is losing liquidity steadily with consistent bribe levels in ETH terms (note foundation grant is no longer in play)
- Arbitrum is significantly gaining liquidity
- There are some very sharp days - eg, when there was a scare about balancer smart contracts. The IMC has taken note and is giving some more importance to spreading out among protocols