Gelato Funding for REX Markets

This proposal aims to set up a more reliable process for getting Gelato the MATIC it needs to run the REX Markets. It includes establishing a budget that the DAO will buy MATIC at a rate of 1000 USDCx per month and starting a stream of 250 USDCx + 12500 RIC/month for 18 months to reimburse for MATIC already spent on Gelato.

Background

REX Market contracts rely on Gelato Network to trigger the markets every 4 hours. The gas for these transactions is paid for out of a Ethereum Owned Account, as opposed to a smart contract like the Gnosis Safe. There isn’t a protocol level incentive to fund Gelato so it hasn’t run reliable.

A few adjustments to the frequency of the markets were made to reduce gas spending and the amount of MATIC spent on gas was reduced. Unfortunately the price appreciated.

Proposal

1. Start buying 1000 USDCx of MATICx and use that to fund Gelato Network
2. Reimburse the Keeper that paid for MATIC on Gelato so far (0x60e9D4f92446968509573D4580A17803201d44eA) who has spent a lot on MATIC for Gelato. The reimbursement will be paid out over 18 months at a rate of 250 USDC + 12500 RIC per month using Superfluid Vesting.