IIP-13: Authorizing the Economics Workgroup to make Adjustments to pwIPOR Emissions

Summary

The Economics Workgroup is authorized to make regular adjustments to the amount of total Liquidity Mining pwIPOR emissions. A change may be made no earlier than 14 days after the last change. Emissions may be reduced or increased by a maximum of 10% with each change. The maximum emissions are 10,800 pwIPOR per day. The minimum emissions are 5,400 pwIPOR per day.

The Economics Workgroup is also authorized to make regular adjustments to the distribution of pwIPOR emissions between the different liquidity pools. A change may be made no earlier than 14 days after the last change for a specific pool. Emissions may be reduced or increased by a maximum of 20% with each change.

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

Theme/Problem/Issue

Currently 10,800 pwIPOR tokens are issued per day. Since liquidity mining began, two changes have been made:

IIP-9 reduced emissions by 30% from 10,800 to 7,560 pwIPOR on April 25, 2023. The start of the stETH pool increased emissions to 10,800 pwIPOR on October 12, 2023.

However, there are advantages to making the pwIPOR emissions more flexible, for example to be able to react to market events, changes in the market environment or changes in the IPOR token price.

Reduced token emissions below the maximum of 10,800 pwIPOR tokens per day also allow the temporary incentivization of a new pool without reducing the emissions of the remaining pools.

Solution

The Economics Workgroup is authorized to make regular adjustments to the amount of total Liquidity Mining pwIPOR emissions.

A change may be made no earlier than 14 days after the last change. The emissions per day may be reduced or increased by a maximum of 10% with each change. The maximum emissions are 10,800 pwIPOR per day. The minimum emissions are 5,400 pwIPOR per day.

Any changes will be communicated in the Discord channel #the-pool. The changes are also documented in a table on the page https://docs.ipor.io/tokenomics/token-distribution-model or directly in the app. The Economics Workgroup can also provide forward guidance when announcing its decision.

Discussion, KPIs, etc.: see open governance discord forum: https://discord.com/channels/832532271734587423/1171474865073688638/1171474865073688638