OP Rewards for Charitable Vault

This proposal follows the RFC regarding the establishment of a new vault with a charitable component. If approved the Exec Team would transfer the OP tokens to the PoolTime team for use as depositor incentives in a charitable vault.

Voting Requirements Quorum: 100,000 votes Approval: Simple majority

Context The Exec Team service contract has ended but they still custody 87,982.847 $OP tokens. These tokens are held on behalf of the PoolTogether treasury and were accumulated through AAVE incentives during PoolTogether V4. This proposal looks to mobilize these unused tokens to incentivize depositors and grow the protocol on Optimism, while proving the concept of a charitable use case.

Proposal Details

Transfer of Funds The Executive Team will transfer 87,982.847 OP tokens to the PoolTime team.

Development and Deployment The PoolTime team will develop and deploy a new application to highlight the charitable components of the vault. The ETA for this deployment is one month. The launch of the charitable vault is targeted for mid-September, with the specific charity to be determined with community input.

Incentive Structure Depositor incentives will be distributed over six months in monthly claimable promotions. One-third of the vault yield will be directed to the selected charity with the remaining two thirds generating chance in the prize pool for depositors.

Key Performance Indicator (KPI) The goal is to achieve an incentivized TVL of $2.2million, with $110,000 in OP incentives at a 10% APR reflecting a current price of $1.25 per OP.