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Notional FinanceNotional Financeby0x7F6f138C955e5B1017A12E4567D90C62abb00074teddywoodward.eth

[NIP-90] Cut NOTE Emissions

Voting ended over 1 year agoSucceeded

Summary

We propose to cut NOTE incentive emissions by 20% in accordance with the plan set out in NIP-80.

The proposed incentive cuts reduce emissions more heavily on Arbitrum, and more heavily on USDT than on USDC or ETH. This reflects three factors:

  1. The general decrease of activity on Arbiturm following the cessation of the Arbitrum incentive programs.

  2. The increased preference of Arbitrum users to sell NOTE incentives relative to Mainnet users.

  3. Focusing on ETH and USDC over USDT as core currencies to aggregate activity and leveraged vault strategies.

Proposed Incentive Emission Cuts

Token Current Emission Rate New Emission Rate Change
ETH (Arbitrum) 400,000 200,000 -200,000
USDC (Arbitrum) 400,000 200,000 -200,000
USDT (Arbitrum) 200,000 100,000 -100,000
ETH (Mainnet) 1,900,000 1,700,000 -200,000
USDC (Mainnet) 2,350,000 2,100,000 -250,000
USDT (Mainnet) 750,000 500,000 -250,000
Total 6,000,000 4,800,000 -1,200,000

Off-Chain Vote

For
1.24M NOTE100%
Against
0 NOTE0%
Quorum:124%
Download mobile app to vote

Discussion

Notional Finance[NIP-90] Cut NOTE Emissions

Timeline

Oct 29, 2024Proposal created
Oct 29, 2024Proposal vote started
Nov 02, 2024Proposal vote ended
May 14, 2025Proposal updated