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[BIP-48] Redirect Revenue for Buybacks to AURA Vote Incentives & Sunset Bao Revenue Share Pools

Voting ended over 1 year agoSucceeded

Summary

This proposal seeks to end all BaoV2 buybacks and discontinue the following two pools currently hosted on Baofinance.io:

  • baoETH-ETH/BAO 20/80 Pool
  • baoUSD-LUSD/BAO 20/80 Pool

Instead revenue used for buybacks will be deposited as vote incentives for vlAURA holders to vote for AURA and BAL emissions to the liquidity pools.

Goals

  1. Increase Pool Attractiveness: Incentives in tokens other than BAO tokens allows liquidity providers to realize value without selling into their own liquidity.
  2. Simplify the Platform: Eliminating the need to host pools on multiple platforms reduces complexity and offers a more streamlined user experience.

Risks

  1. Potential TVL Loss: Discontinuing pools on Baofinance.io may result in some loss of total value locked (TVL).
  2. ** Buyback Suspension:** To direct resources toward Aura vote incentives and the upcoming S-token concept, buybacks will be halted. Buybacks may resumed in the future once there is a more diverse group of liquidity providers.

Implementation

  • Pool Discontinuation: The listed pools on Baofinance.io will be discontinued, with participants encouraged to migrate to the Aura-hosted pools.
  • Revenue Allocation: Current revenue will be redirected to support Aura vote incentives and the S-token concept, with the goal of increasing TVL and enhancing the profitability of Bao pools.

Off-Chain Vote

Approve
7.28M veBAO99.7%
Deny
25K veBAO0.3%
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Discussion

baovotes.eth[BIP-48] Redirect Revenue for Buybacks to AURA Vote Incentives & Sunset Bao Revenue Share Pools

Timeline

Sep 06, 2024Proposal created
Sep 06, 2024Proposal vote started
Sep 13, 2024Proposal vote ended
Sep 13, 2024Proposal updated