Background: Since its relaunch on April 8, 2023, Lodestar Finance has generated revenue from the Reserve Factor, a mechanism allocating a share of the interest paid by borrowers to lenders. Over the course of V0's lifespan, reserves amounting to $69,000 have been collected from the protocol's revenues. As of the drafting of this proposal, the protocol's reserves comprise:
ETH: 7.37 WBTC: 0.376 USDC: 13940 USDT: 5800 MAGIC: 6041 ARB: 2986 DPX: 3 DAI: 6176 FRAX: 5937 These assets would remain in the markets as protocol-owned liquidity, providing a buffer during periods of high utilization. For more information, please visit our technical overview: https://docs.lodestarfinance.io/documentation/technical-overview/reserves/reserve-factors
Proposal: This proposal introduces the final version of Lodestar Finance V1 and the LODE staking module.
With the deployment of new markets and contracts, followed by a brief liquidity migration, the protocol will begin to direct 50% of its revenue to LODE stakers in the form of ETH.
Additionally, LODE stakers will gain the ability to influence a weekly gauge, directing 50% of the incentives to their preferred markets. The remaining 50% will continue to be governed by regular voting proposals governance proposals.
While LODE can be staked and unstaked without delay, participants are offered the option to lock their tokens for either 3 or 6 months, enhancing their staking power by a factor of 1.4x and 2x respectively. Those who choose to relock their tokens at the end of an epoch will receive an additional multiplier, with 0.05x for a 3-month relock and 0.1x for a 6-month relock.
This update will introduce a 'looper' feature, giving users the convenience of looping their positions to the leverage level of their choice in a single click.
Finally, in response to the community's request and subsequent to the development team's risk analysis, this upgrade will enable a GMX and a wstETH markets.
Voting Instructions: Cast a YES vote to enable the final version of Lodestar Finance V1. Cast a NO vote if you oppose the activation of Lodestar Finance V1.