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mStablemStableby0xD43a25B442E2C343dAd472A871c5262cCA275Eb4dereksilva.eth

Should 10K MTA be allocated to Curve's mUSD/3pool Metapool?

Voting ended over 5 years agoSucceeded

A poll on this topic was recently held but ambiguity in the previous iteration lead to some confusion and several community members asked for those items to be clarified and brought to another vote. In short, in the previous vote for MTA rewards in Curve's mUSD Metapool, more than 50% of votes favoured some rewards while almost 50% favoured 0 rewards.

Context - Curve Finance has added an mUSD/3pool Meta Pool to their platform that sees equal parts mUSD and 3pool [USDT, USDC, and DAI] deposited with CRV rewards for liquidity providers, which launched 14 October 2020 after a positive Curve DAO vote. This pool is incentivised with CRV through the LiquidityGauge (currently offering ~20% APY).

This pool will act as a major source of trading volume for mUSD given that it benefits from StableSwap [PDF] design and the existing liquidity in the 3pool.

While the popular vote of the previous poll (50.4%) was in favour of assigning rewards, this was diluted due to having multiple 'yes' options while the main concerns from 'no' voters being further dilution of MTA, with some confusion over where the MTA would be allocated from. An ideal voting process would have first been a yes/no, followed by a proposal on where (if anywhere) this allocation should come from, and in what quantity.

After discussions in mStable's Discord server, Telegram group and forum, it is proposed to add 10,000 MTA to Curve's mUSD/3pool Metapool.

A second, separate poll is available for those who agree with this proposal to determine from where the 10,000 MTA is derived.

Should 10K MTA be allocated to Curve's mUSD/3pool Metapool?

Off-Chain Vote

Yes, allocate 10K MTA to the pool
373.87K 94.3%
No, do not allocate 10K MTA to the pool
22.61K 5.7%
Download mobile app to vote

Timeline

Oct 16, 2020Proposal created
Oct 16, 2020Proposal vote started
Oct 18, 2020Proposal vote ended
Apr 28, 2024Proposal updated