[BPD:03] Profit Distribution - Week 3

Background

Following the passage of [BIP:81], the DAO has been experimenting with a trial for distributing its Q2 2024 profits through user incentives. Part of the proposal suggests the implementation of holder-directed incentives, where holders of the $BIFI token vote on a regular basis to determine how all or some of the user incentives should be allocated amongst Beefy's different products.

For the remainder of the trial, we will operate weekly votes to allow holders to give input to the allocation of user incentives, and to feed back on this potential mechanism. We will alter the parameters of the vote each week, so that holders, users and contributors alike can evaluate the suitability of different models for holder-directed user incentives. The core team is keen to receive feedback and suggestions from all stakeholders on the trial mechanisms in the #-profit-distribution channel on Discord.

Week 3

For the third week, we are proposing another adjusted scope for this vote. We will move back to single-choice voting, but open up the number of options too all products on all chains bar Ethereum Mainnet (due to the higher associated costs).

The parameters for this week are:

• Single-choice voting
• 60% distributed by holder votes, 40% by core
• Any products on any chains save Ethereum Mainnet
• As many vote options as are requested, or otherwise up to the limit of Snapshot's capacity
• Incentives to be paid out in $mooBIFI where possible, and stablecoins otherwise
• No CLM Reward Pools to be incentivized where there is also a CLM Vault of the same pool
• A minimum of 5% of total voting power is required for selection, but with the caveats of: (1) no less than 5 boosts, with the largest options under 5% being selected if there is insufficient otherwise; and (2) the calculation of total voting power to be adjusted as describe below where any one option exceeds the maximum limit.
• A maximum of 20% of the total allocation to any one option
• Where the maximum limit is exceeded, those votes will be removed from the calculation of total voting power thereafter, to ensure other options are able to pass the minimum threshold.

For future weeks, please go to the #-profit-distribution channel on Discord to put in your requests.

This vote closes at Midnight UTC on Tuesday 19th November, with incentives going live on Thursday 21st November. The Week 4 vote will go live on Friday 22nd November, and requests are open for submission on Discord from after the posting of this proposal.

Proposal

Beefy should allocate profits for the next week to the following products:

(To view the options on the Beefy app, insert the above ProductID into the following link to visit the corresponding product page: https://app.beefy.com/vault/{ProductID})