SIP 24: Update SDL allocations for veSDL gauges and Ondo’s Liquidity-as-a-Service pool

Summary

Update SDL allocations for the upcoming 6 month veSDL gauge incentives and Ondo’s Liquidity-as-a-Service SDL/FRAX SushiSwap pool to 30MM and 10MM SDL respectively.

Background

The SDL allocations being discussed were originally ratified in SIP-8: SDL Unlock, Tokenomics, and Liquidity and SIP-13: Loans for Ondo Liquidity as a Service.

Motivation

Given current market conditions and events including the remuneration plan it is in the protocol’s best interest to deploy the treasury more conservatively.

Specification

Adjust the 6 month veSDL gauge incentives to 5MM SDL a month (30MM SDL total over 6 months). Adjust the SDL allocation for Ondo’s Liquidity-as-a-Service SDL/FRAX SushiSwap pool to 10MM SDL and 2.5MM FRAX for an implied initial price of $0.25 per SDL.

For: Update the veSDL gauage incentives and Liquidity-as-a-Service SDL allocations as described above.

Against: No change.