This proposal aims to implement strategic changes in Age 3 to ensure the long-term health and sustainability of the Pine ecosystem.
1. LP Incentives: Considering the prevailing market conditions, we propose discontinuing LP incentives for Age 3.
2. Token Emission Adjustments: We suggest a reduction of incentive rewards by 75% for PineDAO governance units, specifically for holders of vePine and sbPine. With this adjustment, rewards will now be claimable every 4 weeks. For instance, where a user could claim 1000 PINE every week, they can now claim 1000 PINE every month.
3. Protocol Fee Allocation: From Age 3 onwards, it's proposed that 50% of the protocol-generated fee be allocated towards the purchase of $PINE from the open market, with the acquired $PINE subsequently being burned. The remaining 50% is suggested to be utilized as liquidity on DEXes.
Commencement of Age 3: Age 3 will officially begin on September 4, further specifications can be found in the whitepaper.
In essence, this proposal aims to mitigate the inflationary impact on $PINE, strategically positioning the token to foster organic demand and utility. This approach anticipates and supports the continued growth and expansion of the Pine protocol and platform.