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Reverse ProtocolReverse Protocolby0xC13D06194E149Ea53f6c823d9446b100eED37042rvrsprotocol.eth

Airdrop Adjustment Proposal

Voting ended almost 4 years agoSucceeded

This is a ranked choice vote. That means it is possible to vote for your favorite choice without being afraid that your vote "won't count" against stopping a vote you don't want to pass.

For example:

If the % of airdrop is your top priority, you can rank your choices with both options that utilize the % airdrop you prefer, and place the one above the other that has the token you prefer.

If the token of the airdrop is your top priority, you can rank your choices with the token you prefer at the top, ordering them based on which % you prefer.

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Caveats:

  • RVRS at time of writing is trading at 2:1 treasury to staked value ratio
  • Current buyback/compound ratio puts us at about 85% Buybacks / 15% Compounding of the non-airdropped yield

Option 1

  • Restart airdrops at the current rate of 75% of weekly yield
  • Send them in USDC - Investors can opt to market-buy at current prices and stake if they want to reduce dilution from current price action
  • Includes the previous week's paused airdrop in full

Option 2

  • Restart airdrops at a reduced rate of 50%
  • Send them in USDC - Investors can opt to market-buy at current prices and stake if they want to reduce dilution from current price action
  • Previous week's airdrop is paid out in accordance with above rate adjustment
  • After max 3 months airdrops will be revisited

Option 3

  • Compound all airdrops into the treasury for a set time in accordance with BB/Compound ratio
  • Previous week's airdrop fully compounded as well
  • After max 3 months airdrops will be revisited

Option 4

  • Option 1 but with RVRS instead of USDC
  • This is a measure to facilitate the process of getting RVRS to approach 1:1 through market buys and to use it to reduce dilution of current holders whilst at 2:1
  • RVRS rewards can be sold as an opt out - but this will dilute sellers' current holdings against those who stake.
  • This is a short term measure, airdrops will revert to stables after max 3 months

Option 5

  • Option 2 but with RVRS instead of USDC
  • This is a measure to facilitate the process of getting RVRS to approach 1:1 through market buys and to use it to reduce dilution of current holders whilst at 2:1
  • RVRS rewards can be sold as an opt out - but this will dilute sellers' current holdings against those who stake.
  • This is a short term measure, airdrops will revert to stables after max 3 months

Option 6

  • Not happy with any options
  • Airdrops will remain paused until further discussion

Off-Chain Vote

current rate of 75% - USDC
0 RVRS0%
reduced rate of 50% - USDC
0 RVRS0%
Compound all airdrops
774.27K RVRS37.6%
current rate of 75% - RVRS
1.28M RVRS62.4%
reduced rate of 50% - RVRS
0 RVRS0%
Not Happy
0 RVRS0%
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Timeline

May 21, 2022Proposal created
May 21, 2022Proposal vote started
May 23, 2022Proposal vote ended
Oct 26, 2023Proposal updated