SIP-0 | Decrease COIL single-staking APR

Summary: We propose to decrease COIL single-staking APR to 90 or 100%.

Context: Our Spiral DAO community have had sustained concerns about the topic we are about to discuss. Recently some members of the Curve community have reached out to us about it as well. These are concerns about the sustainability of the high single-staking APR and the OHM-like model overall for the DAO and the whole ecosystem. The problem lays in the huge APR that makes any LP in our pool inefficient for external actors. We think they're onto something, and we have mentioned in the previous proposal about increasing APR that this state of things is not forever. So we're proposing some tweaks to help things stay balanced.

Rationale: The first step we want to propose is to cut down the COIL staking APR from a massive 271.828% to a more balanced 100% or even 90%. This change will apply to all users who are currently staking COIL and those who will stake in the future. Bringing down the APR means less speedy inflation for COIL and more solid support for every COIL in the future. It also helps to spread out the value more evenly among all of our Spiral DAO users, whether they're staking or not. This change will also slow down the growth of POL, which most importantly will result in a decrease in POL share and make our bribes a lot less efficient. So we're planning some more adjustments down the line.

Voting options:

• Decrease COIL single-staking APR to 100%.
• Decrease COIL single-staking APR to 90%.
• Keep the APR as it is.
• Abstain

Future: If this proposal is accepted, we believe the next step should be decreasing the APR of single staking even further in the following two months to a value between 1x-3x the Treasury APR. Besides that, the whole model of a huge POL won’t be that efficient with this decrease in the APR. It may lead to some massive changes in our Tokenomics and possibly the change of the SPR model overall. Instead of the old value-preservation focus, we may need to start distributing some of the yields to the DAO members.