QIP185: Partner with Gains Network on Stable Pool

This proposal seeks a QI allocation for a new gDAI-MAI-USDC pool on Balancer Arbitrum.

No net increase in QI emissions will result from this proposal

Allocation: Up to 20k QI per week, with a cap of $2k based on QI price

Method of distribution: voting incentives for Balancer DAO. These incentives will be used via Tetu, which currently has the highest ROI for Balancer incentives. If another solution becomes more profitable, QiDao will switch to that solution.

The allocation would be taken from current pools to keep emissions unchanged. The sources of the allocation are detailed below:

• All incentives currently used on Balancer’s MAI-DAI-USDT-USDC LP on Polygon (9k QI per week / 18k QI per epoch)
• 50% of incentives from Curve’s MAI+av3CRV LP on Avalanche, equaling 10k QI per week
• 1k QI / week from MAI-USDC on QuickSwap, a 0.83% cut

Gains Network will match QiDao’s incentives starting with $2k per week.

Motivation

• QiDao is soon to add gDAI as collateral on Arbitrum. Other collaterals in the works, including staked ETH LPs on Curve. MAI will need sufficient liquidity on Arbitrum to ensure smooth liquidations for these new vaults
• Partnering with Gains will increase the amount of liquidity QiDao can lock for the same amount of rewards
• The size of Avalanche’s MAI pool is larger than needed given the amount of MAI debt on that chain
• The cut from QuickSwap is negligible and allows QiDao to meet the requirements of this deal with Gains Network
• The current pool on Balancer Polygon is not needed. MAI’s main liquidity on Polygon is QuickSwap, UniSwap, and KyberSwap. A fourth base of liquidity only fragments liquidity.

Quorum Standards

The option with the most votes will be adopted.

Options

• Approve proposal
• Further discussions needed
• Abstain