GIP 7: Pay GNO Reward for GNO<>ETH Sushi LP

Summary:

Paying out a GNO reward on top of the SUSHI reward that the GNO<>ETH Onsen pool pays

Abstract:

The objective of this proposal is to kick off a crossDAO collaboration attempting to create stakeholders for both communities (Sushi and GnosisDAO).

GNO<>ETH is a part of Onsen and already accrues Sushi rewards.

Through a liquidity incentivisation campaign, both teams can distribute voting power to the members of both communities.

Motivation

Both Sushi and Gnosis are DAO’s and teams committed to building decentralized products enabling the future of open finance.

It has been quite impressive to see the strong community that has formed around Sushi, and the GnosisDAO would benefit from feedback and participation from the Sushi community in order to explore future synergies between our products.

As a precedent for this and future collabs, we are currently running this joint grant program -> https://blog.gnosis.pm/introducing-the-gnosis-safe-sushiswap-grant-f2e597c6d6cb

A grant has already been accepted to build a Sushiswap interface inside the Gnosis Safe’s app store.

Specification

Pay 700 GNO to liquidity providers on the Sushiswap GNO<>ETH pool with address 0x41328fdba556c8c969418ccccb077b7b8d932aa5 throughout one month after the proposal has been passed.

With the above, we can achieve:

• Creating stakeholders for both communities
• Foment cross-DAO collaborations in the future
• Increase GNO liquidity

Implementation

Members of the Gnosis team will develop a DuneQuery that can help track the addresses that staked GNO<>ETH LP tokens on the MasterChefSushi contact.

This will enable the DAO to distribute the GNO reward via the SafeAirdrop app, and avoid using the “deposit directly to LP contract” method. This will avoid:

• Price depreciation for GNO on the LP pair
• Eliminate people that only deposit to frontrun before the reward is distributed (not real LPs)

Details of the reward

• 700 GNO will be distributed to GNO<>SUSHI LP providers that stake their token on the MasterChef LP Staking Pool (0xc2edad668740f1aa35e4d8f227fb8e17dca888cd) for one month
• The eligible period for the reward will start on 0:00 (GMT) of the day after the phase 3 proposal passes on Snapshot, and will end 30 days later After the period has concluded, the Gnosis DAO will use the SafeAirdropApp to distribute the tokens to all eligible addresses
• A retrospective post on forum will show the impacts of this proposal and start a discussion regarding possible repetitions in the future