IMC Period 15/16 Reports; Period 16/17 Budgets

Period 15 Report

Not too much of interest here. The RPL ratio kept getting rekt, leading to lower mainnet rETH/ETH to protect runway. I just figured out today that I had a sum range incorrect in my spreadsheet, so the runway health metric is a little lower than we should’ve targeted, but only a little.

Period 16 Budget

Nothing new here. Ratio went back up, so mainnet incentive did too. Same note about sum range.

Period 16 Report

Ratio continued to rise, so mainnet incentive did too. Same note about sum range.

Period 17 Budget

  • We’ve recently talked to a number of parties about possible opportunities – there’s actually a fair number and some are fairly involved, so I’ll point at the IMC public discussion thread on discord and note that I’m happy to answer any questions from RP community members either there or in DM
  • We’ll be getting a one-time disbursement per the recent vote
  • We’ll be getting increased monthly disbursements per the recent vote
  • The budget has not had significant changes based on the above 2 bullets yet, so this budget is even more “subject to change” than most budgets

More thoughts

The metric we most look at is our 1% price impact point. For these periods we’re looking at the end of September to now. It’s rather interesting that it did not go down further when RPL price dropped significantly in late October. The effect of the Arbitrum incentives is quite visible too. Optimism liquidity had been dropping since the end of the foundation grant – glad to see that trend stop/reverse here.

I made a new dune query that’s kinda cool. This shows the RPL in the IMC wallet over time and all the transactions as they happen. Honestly - it’s probably most useful to me to check numbers, but thought it might be an interesting curiosity piece for some folks. I have not added the arbitrum wallet to this view, so it’s not quite perfect, but that wallet has never been over 300 RPL so it still serves as a big picture.