IMC Period 7 Budget

  • We’re swapping some of the way we think about incentives to be ETH-denominated instead of RPL denominated. The rETH/ETH incentive will be ETH denominated, the rETH/RPL incentive will be ~half ETH denominated and ~half RPL denominated. The actual incentive will still be RPL. We won’t go too crazy here if the price of RPL changes dramatically - probably limit the “ETH-denominated” part to a 2x shift in price.
  • We’re continuing reducing incentives on mainnet rETH/ETH slowly as we retain a premium; we feel this is getting “close” and are keeping alert about it
  • Arbitrum and polygon are getting some attention soon - we need rate providers, which will hopefully happen this period
    • Shoutout to the Polygon team for reach out to us and offering generous incentives to help rETH on Polygon!
  • We’re still interested in co-incentivizing with folks that make rETH/theirtoken pools - please reach out if you’re interested or know someone that might be
    • Sales pitch: (1) Pairing with rETH instead of ETH needs less bribing b/c it brings its own yield to the party. (2) We’ll add some co-incentives on top for the beginning to help jumpstart the pool.