Layer2DAO Improvement Proposal #1 (LTIP-1)

Simple summary LTIP-1 asks the Layer2DAO community to give their opinion on whether the current Sushi LP Rewards programme should be continued or be modified. In addition it also gives the community the chance to test and learn on governance as we move towards becoming a fully Decentralised Autonomous Organisation.

Detail The initial Sushi LP Rewards programme was opened for a period of 60 days and funded with 1,000,000 L2DAO tokens of which all tokens have been distributed. This represents 0.1% of the total number of L2DAO tokens.

The purpose of the LP Rewards programme was to (1) offer liquidity to help early adoption of the DAO and (2) to reward providers of that liquidity. The initial period for the programme is expiring on Friday 15 April 2022.

For the reasons given above the programme is going to be extended by a period of 90 days and will distribute a further 1,500,000 L2 DAO tokens. This represents a further 0.15% of the total number of L2DAO tokens.

The options for this programme are as follows:

1. Continue with Sushi LP Rewards for 90 days
2. Move to 50% Uniswap LP and 50% Sushi LP Rewards for 90 days
3. Close the Sushi Liquidity Pool and move 100% to a Uniswap LP Rewards programme for 90 days