Repurposing KEEP - ETH liquidity incentives

Currently the Keep Network treasury has a budget to provide liquidity incentives through until the end of May 2022 via:

  • 170k KEEP / week on KEEP - ETH pool on uniswap
  • 250k KEEP / week on Saddle stableswap pool
  • 50k KEEP / week on coverage pools

This proposal is to repurpose the liquidity incentives being spent on the KEEP - ETH pool on uniswap.

Features:

  • Winding down the rewards on the KEEP - ETH pool.
  • Transferring the allocated incentives from the KEEP - ETH pool to the Threshold Council to use for bribing vote weight via bribe.crv, votium or similar platform.
  • Once the Threshold DAO governance contracts have been deployed the remaining incentives would be transferred to the DAO.
  • The council can upgrade the KEEP to T for use in bribing gauge weight.
  • Outreach to a new community around the Threshold Network mission.

Benefits:

  • Create an economic incentive for KEEP - ETH LPs to move their liquidity to T - ETH.
  • Boost the yield on the Threshold DAO’s Protocol Owned Liquidity in the T - ETH pool.
  • Marketing to a new community to recruit stakers.

At the time of writing Votium provides $2.29 of emissions (CRV and CVX) per $1 spent on bribes.

The proposed wind down of rewards on the KEEP - ETH pool is.

Week 0: Announcement via the Keep staking dashboard and blog post
Week 1: 170k KEEP
Week 2: 85k KEEP
Week 3: 0 KEEP

3 Likes

Thanks, Ben. Sounds reasonable to shift over to T liquidity, with the added benefit of increasing yield on the recently added protocol-owned liquidity.

For those of us not familiar with Votium, could anyone share a blog or other explanation of how it works (ideally including the choice of term “bribe”, which is normally a pejorative; are we also sending regulators invitations to come crack down on DeFi?)?