[RFC] - Lynex Bribes During Transition

Author[s]: Mendi Core Team

Title: Lynex Bribes During Transition

Type: Request for Comment

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Intro

With MIP-10 the DAO approved the transition from Mendi to a Unified Liquidity Lending protocol, Malda, marking the protocol’s next chapter.

As we are approaching the next major milestones—rebranding and testnet launch—we want to ensure a smooth transition for the community and protocol participants.

As previously outlined:

Lending & Borrowing

• Contracts on Mendi will remain live forever.
• Once Mainnet goes live, users will be incentivized to migrate their supply & borrow positions over to Malda, which will be incentivized on a time-weighted basis.

$MENDI to $MALDA

• $MENDI will remain tradable on the market until the TGE, allowing users to manage their holdings as needed.
• $MENDI to $MALDA migration will officially take place at TGE, marking the full transition.
• $MENDI and staked $MENDI can both be migrated over directly, eliminating the need to unstake before migrating.

Proposal Summary

While MIP-10 proposed a full pause on emissions once Malda mainnet is live, we are introducing a minor, but impactful adjustment: maintaining bribes on Lynex until Malda TGE.

Proposed Adjustment

• Instead of entirely pausing emissions after Malda mainnet launch, bribes on Lynex will remain active.
• This will ensure sufficient liquidity for $MENDI and allow $MENDI stakers to continue receiving oLynx rewards, besides receiving boosted Malda points during the transitional phase.
• Bribes will be discontinued once $MALDA TGE takes place.

Rationale for the Change

• Sustains Liquidity: Ensures that $MENDI retains sufficient liquidity during the transition, preventing market instability.
• Rewards Stakers: Allows current $MENDI stakers to continue earning oLynx rewards, in addition to boosted Malda points until the full transition to $MALDA.

References and Links

MIP-10

Bribes Schedule in Mendi Docs