V2 Liquidity Mining Allocation

This is a proposal to allocate RIC to incentivize liquidity for the Version 2.0 Markets. If approved, there will be a 10,000 RIC per month stream opened to each of USDC<>ETH and USDC<>WBTC markets.

Background

Version 2.0 REX Markets have been set up for ETH and WBTC with USDC as the pairing token in both markets. ETH and WBTC are the two most popular markets so Version 2.0 will only include ETH and WBTC. Future markets must go through the Get Listed process in order to be listed.

Proposal


1. The Ricochet Treasury will stream 10,000 RIC per month starting on Thursday, Feb. 17th to the USDC<>ETH and USDC<>WBTC Markets.
2. Starting Friday, Feb. 18th, the emission rate on the ETH and WBTC will be set to 10,000 RIC per month and RIC subsidies will resume.

The one day of streaming into the contracts will create a buffer of RIC subsidies. There won’t be much RIC being locked into REX Markets contracts to avoid creating a RIC honeypot. These streams will be closed when v2.1 REX Market contracts are available. RIC allocations for other tokens will be proposed separately from these initial markets, see Get Listed in the docs for more information.