[MLP/E2/OC] On-Chain Milestone for MLP Epoch 2

Author[s]: Mendi Core Team

Title: On-Chain Milestone for MLP’s Epoch 2

Type: Mendi Loyalty Point / Epoch 2 / On-chain Milestone Determination

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Overview

This proposal defines two potential on-chain milestones for Epoch for the 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 2.

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%).

Task achievers must have at least 300 $MENDI staked to be eligible for rewards.

More details on updated MLP system and reward distribution:

https://mirror.xyz/0x4Da818DD3aAfb9D042a76B5037cdBa61533C7692/FzBSv3rT6ixDLolcHc7IOCcQUG9dHEBYFFbYa4A1Cfw

Options

Option 1 - Reach $11m USDC supplies

• Goal: Surpass total protocol USDC supply of $11 million for at least 1 day during the epoch
• Measurement: Supply amounts will be tracked through Mendi’s official Dune Dashboard.
• Reward Structure: Rewards for the on-chain task-achievers will be distributed pro-rata based on USDC supplies during the epoch.

Option 2 - Reach $22m total protocol borrows

• Goal: Surpass total protocol borrows of $22 million for at least 1 day during the epoch
• Measurement: Borrow amounts will be tracked through DefiLlama.
• Reward Structure: Rewards for the on-chain task-achievers will be distributed pro-rata to users who borrowed assets during the epoch.

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 21st - Nov 23rd
• Epoch 2: Nov 23rd - Dec 7th