Should we allocate 13 million GIV to continue GIVpower staking incentives until Oct 31, 2023?
Requesting 13mil GIV for 6 months of GIVpower rewards
GM folks - it's that time already. Our 6 months of GIVpower staking incentives are about to run dry.
Current program ends: April 18, 2023 Request: Top up incentives for 6 more months (until October 31 2023 :jack_o_lantern:) Request amount: 13,000,000 GIV
How it was calculated
Because of the GIVstream, we have inflation and therefore an increasing amount of GIV staked over time. This is why the amount requested is higher than was requested for the 1st 6 months of GIVpower. The current requested 13 million GIV was determined by:
- Looking at the GIV staking data from our dune dashboard
- Defining a linear function that represents the increase in staked GIV
- Determing the amount of GIV that would need to be put out every 2 weeks to maintain our current APRs (min 12.74%, max 66.28%)
@griff & worked on this in this spreadsheet on the GIVpower March '23 tab. The spreadsheet was explained last summer in this video.
Proposed distribution rate
The biweekly distribution rate of GIV will be as follows:
| Round | Start Date | GIV | % of 6 mo. Total |
|---|---|---|---|
| Round 1 | April 18 | 753,000 | 5.79% |
| Round 2 | May 2 | 780,000 | 6.00% |
| Round 3 | May 16 | 807,000 | 6.21% |
| Round 4 | May 30 | 834,000 | 6.42% |
| Round 5 | June 13 | 861,000 | 6.62% |
| Round 6 | June 27 | 888,000 | 6.83% |
| Round 7 | July 11 | 915,000 | 7.04% |
| Round 8 | July 25 | 942,000 | 7.25% |
| Round 9 | August 8 | 969,000 | 7.45% |
| Round 10 | August 22 | 996,000 | 7.66% |
| Round 11 | September 5 | 1,023,000 | 7.87% |
| Round 12 | September 19 | 1,050,000 | 8.08% |
| Round 13 | October 3 | 1,077,000 | 8.28% |
| Round 14 | October 17 | 1,105,000 | 8.50% |
| Total: | 13,000,000 | 100.00% |
Important considerations
-
We are proposing to launch GIVpower staking on Celo & maybe Optimism, and if this happens during this GIVpower rewards distribution period, we would take 10% of these rewards and bridge it to the appropriate chain - to use as incentives there.
-
People are able to lock up their for a 1 year, so if we want to keep GIVpower going, we will need to top this up again in 6 months
Conclusions
Time is of the essence here because the current rewards run out April 18.
Off-Chain Vote
Discussion
Timeline
Mar 27, 2023Proposal created
Mar 27, 2023Proposal vote started
Apr 03, 2023Proposal vote ended
Feb 09, 2026Proposal updated