SIP-2 | Decrease COIL single-staking APR

Summary: We propose to decrease COIL single-staking APR from 90% to 80%

Context: As a reminder : Our Spiral DAO community have had sustained concerns about the topic we are about to discuss. In addition, 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.

Rationale: We propose to reduce the COIL staking APR by 10% (from 90% to 80%). This change will apply to all users who are currently staking COIL and those who will stake in the 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 1:1 to 1:3 ratio with the Treasury APR.

In addition to that, we are currently considering potential changes to our Tokenomics, including a possible revision of the SPR model. Rather than solely prioritizing value preservation as before, we are exploring the idea of distributing a portion of the yields to the DAO members.

Voting options:

• Decrease COIL single-staking APR to 80%.
• Keep the APR as it is.
• Abstain