SIP-8 | Extension of the sprMAV Incentive Program and introduction of sprMAV-ETH pool in the gauge

Summary Building upon the success of previous initiatives (STP-4 and SIP-6), this proposal aims to extend the sprMAV incentive program for staking and liquidity provision.

Context The previous sprMAV incentive program (SIP-7), in addition to the new Referral program (SPP-1), successfully attracted approximately 400k MAV, giving a total of 1,2M MAV (27.2% of the total veMAV shares).

Recent improvements in Maverick's trading and routing functionalities have prompted us to contemplate a potential change: replacing the sprMAV/USDC trading pair with the sprMAV/ETH pair. As part of this decision-making process, the DAO will need to assess whether to retain the sprMAV/USDC gauge within this program. Furthermore, if we do decide to keep both liquidities (USDC and ETH pair), it's important to consider that both of them will be smaller in size and potentially less efficient, as the available liquidity will be divided between two pairs, possibly affecting their performance.

With the significant delay in the Maverick Gauge system launch for the MAV token, we find it necessary to adapt our reward distribution strategy. As previously outlined in our Medium article, our original plan was to allocate 70% of the MAV tokens to our users through airdrops, with the remaining 30% distributed gradually after the drop. However, with the Maverick airdrop postponed, we face the challenge of providing a fair and sustainable incentive program.

This adjusted approach ensures that our community continues to receive valuable incentives and rewards while accommodating the unforeseen delay in the Maverick launch. We believe this strategy maintains fairness and transparency in our distribution process, aligning with our commitment to providing the best possible experience for our users. Incentivization Allocation Considering the current estimations of Spiral Maverick airdrop share, we will distribute 18% of the remaining tokens, which will consequently reduce the amount available for future incentives.

92451.920366667 sprMAV are left to be distributed as follows:

• 40% will be allocated to sprMAV single staking.
• 60% to be voted for by Staked sprMAV holders between those pools:
• sprMAV/MAV: the gauge will last
• sprMAV/USDC: Whether to keep or remove this pool's gauge.
• sprMAV/ETH: Whether to introduce a gauge for this pool.

Means

• Engineering resources: The RewarderVault smart contract will continue distributing sprMAV tokens.
• Treasury resources: Unless the airdrop amount is insufficient to cover the pre-minted sprMAV tokens, the Treasury will not bear any expenses.