Summary

1. pwIPOR can also be delegated to addresses other than that of the owner.
2. The power-up curvature of liquidity mining will be changed. It will be increased for a ratio below ~1:1 (ipToken:pwIPOR) and flattened for a ratio above that. In addition, the power-up lower limit will be raised from 0.2 to 0.4. The Economics Workgroup will determine the details.
3. The Economics Workgroup will also be empowered to decide on future changes to the curvature.
4. IPOR will start a collaboration with the Turtle Club in the form of a pilot program. During the two-month duration of the pilot program, the Turtle Club will receive a bonus of 25% of the total amount of pwIPOR earned by its members in liquidity mining. The bonus will be paid from the marketing budget. The economics workgroup is authorized to terminate the pilot program at any time, extend it, or continue it under different conditions.

Changes regarding 3. and 4. of this IIP must be announced 7 days in advance in the Discord channel #the-senate. Changes may only be made if no objections have been raised in the form of a Snapshot vote within this period. If objections are raised, the changes may only be made once the Snapshot vote containing the objections has been rejected by the DAO.

The members of the Economics Workgroup are listed in a pinned message in the Discord channel #the-senate.

These authorizations can be revoked by the DAO at any time.

Theme/Problem/Issue

1. It extends the utility of pwIPOR if it can also be delegated to other addresses. This allows, for example, to match IPOR holders without liquidity and LPs without pwIPOR. Protocols such as Convex or StakeDAO could integrate IPOR more easily.
2. The current power-up curve allows for a very high multiplier, which is higher than most other DeFi protocols. For example, most protocols with ve-tokenomics such as Curve offer a maximum multiplier of 2.5x. On the other hand, the base APR might currently not be considered attractive enough by some LPs.
3. Delegating decision-making power to the Economics Workgroup relieves the DAO and enables decision-making in a smaller, specialized group.
4. A cooperation with Turtle Club is relatively risk-free, as costs only arise when the DAO has received a corresponding benefit (TVL). The costs are also limited. Even if members of the Turtle DAO were to mine 25% of all pwIPOR, the monthly expenses would only be around 12,000 pwIPOR.

Solution

The following chart compares the current power-up curve and the proposed new curve:

Empowering the Economics Workgroup:

The decision within the Economics Workgroup is made with a simple majority. The 7 day period prevents misuse.

Pros/Cons

Pros:

• Opening new use cases for pwIPOR
• More attractive APR for new LPs
• Acquisition of new LPs

Cons:

• lower APR for LPs with high power-up
• $IPOR expenses

KPIs

To evaluate the success of this proposal, the following should be taken into account:

• Use of the delegation function
• Total TVL
• TVL provided by Turtle Club members

Timeline/Steps

1. Discussion: Discussion in the open governance forum for 3 days.
2. Vote: After this period the proposal will be moved to #formal-governance and a Snapshot vote will be held.
3. Implementation: as soon as possible
4. Monitor and evaluate the changes: After the changes have been implemented, it will be important to monitor their impact on IPOR and the community. This will involve tracking the KPIs mentioned earlier.

Resources

Technical

• Development tools
• Testing and deployment infrastructure

Financial

• Development budget

Skills/Budget

Skills

• Solidity and smart contract development skills
• Familiarity with DeFi protocols and concepts such as lending and borrowing and IRS
• Experience with Ethereum and the IPOR protocol

Budget

• Development costs for implementing the updates
• Marketing budget

Cost Estimation

The IPOR Labs team has already signaled that the costs considered for implementing these proposals fall within the software development scope and services rendered and paid for from the protocol’s initial funding.

Commitment

Transparency: The contracted developer will have a commitment to being transparent about the development and implementation of the proposal. This will include providing regular updates on the progress of the changes and sharing any relevant data or information with the community. Community engagement: The contracted developer will actively engage with the IPOR community throughout the development and implementation of the proposal. This will include soliciting feedback from the community and incorporating their suggestions and concerns into the proposal. Responsiveness: The contracted developer will be responsive to any questions or concerns raised by the IPOR community about the proposal. This will include providing timely and accurate responses to any inquiries from the community. Accountability: The contracted developer will be accountable for the impact of the proposal on the IPOR Protocol and its community. This will include tracking the KPIs mentioned earlier and making any necessary adjustments based on the results.