[MLP/E1/OC] On-Chain Milestone for MLP’s Epoch 1

Author[s]: Mendi Core Team

Title: On-Chain Milestone for MLP’s Epoch 1

Type: Mendi Loyalty Point / Epoch 1 / On-Chain Milestone Determination

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Overview

This proposal defines two potential on-chain milestones for Epoch 1 for the newly updated Mendi Loyalty Points (MLP) system. Voting on the milestones will guide how we incentivize growth within the Mendi community and engage our members meaningfully with our on-chain activities. The on-chain milestone that receives the most votes will be active for the duration of Epoch 1.

If the milestone is achieved, MLP (and potentially staked MENDI rewards) will be distributed to contributors who participated. Rewards are distributed evenly across 3 channels; 33% for $MENDI Stakers, 33% for Borrowers and 33% for Task-achievers (task-achiever rewards are split in two parts: on-chain (16.65%) and social (16.65%).

More details on updated MLP system and reward distribution: https://mirror.xyz/0x4Da818DD3aAfb9D042a76B5037cdBa61533C7692/FzBSv3rT6ixDLolcHc7IOCcQUG9dHEBYFFbYa4A1Cfw

Options

Option 1 - Reach $70M TVL

• Goal: Achieve a Total Value Locked of $70 million for at least 1 day during the epoch
• Measurement: TVL will be tracked using data from DefiLlama
• Reward Structure: Rewards for the on-chain task-achievers will be distributed pro-rata based on the amount each user supplied on any market during the epoch.

Option 2 - Reach $11M Supply on USDC Market

• Goal: Reach a supply of $11 million in USDC for at least 1 day during the epoch
• Measurement: Supply amounts will be tracked through Mendi's official Dune dashboard.
• Reward Structure: Rewards will be distributed pro-rata to users who supply USDC during the epoch, creating a focused incentive on a single, stable asset.

Key Considerations

Voting on this proposal allows the community to shape which on-chain milestone we pursue for this epoch. Reaching the milestone will unlock rewards for participants and advance our goal of deeper, more meaningful ecosystem engagement.

Timeline

• Vote to determine milestones: Nov 6th - Nov 8th
• Epoch 1: Nov 8th - Nov 22nd