[GIP-93] STIMMIES: Incentives for PURE trading competition

Summary

STIMMIES is a trading competition/loyalty program designed for PURE margin trading. The goal of STIMMIES is to help increase product awareness and adoption through gamification and incentives and to bring more sophisticated traders to Gearbox. Traders will earn STIMMIES for their trading activity on PURE, which will be redeemable for $GEAR every 2 weeks.

Motivation

Leverage trading, even onchain, is a highly competitive DeFi vertical with established players. This vertical though is largely dominated by a single leverage mechanism, perpetuals. Like every product, perpetuals too have some pros and cons though due to a lack of options, users are largely reliant on perps. Gearbox has innovated and deployed PURE to offer users leverage through Margin Trading.

Margin Trading is created by enabling leverage trading of spot assets on top of DEXes like Uniswap, Curve, and others. This enables PURE to offer lower rates, deeper liquidity, farming with leveraged trades and more. These differentiations enable Gearbox to tap into a different segment of users.

But in order to solidify these differentiations, it is important to push the product and part of that requires incentivisation to mobilise traders. As well as to gain adoption through pushing referrals. This is why STIMMIES are required to push PURE. You can read the complete details about STIMMIES here.

Proposal

This proposal is to the STIMMIES programme fund with 0.5% of $GEAR supply till the end of Q1. The funds will be transferred to the VIBES multisig and will be processed every 2 weeks as per traders’ activity. At the end of Q1, if some $GEAR remains, it’ll be rolled over to the next instalment of STIMMIES if the programme is continued. Otherwise, it will be returned to the DAO treasury.