Match $ARB incentives with $SWISE for the upcoming osETH deployment on Arbitrum

StakeWise has successfully applied for and was granted 300K $ARB tokens by the Arbitrum Foundation, to be used over 3 months for bootstrapping osETH liquidity on Arbitrum.

This is sufficient to bootstrap ca $20M of liquidity for osETH - enough to establish a strong liquidity profile from the get-go and pursue valuable integrations in the ecosystem from day 1.

However, the grant has an important condition attached - namely that StakeWise match the dollar value of the grant (~$350,000 at current prices) via its own SWISE incentives, over the 9-month period starting August 2024. At the current SWISE price, this means ca 11,500,000 extra SWISE emitted over the 9-month period.

The decision on the commitment for this amount of incentives is solely in the hands of the StakeWise DAO.

Given the additional incentives contributed by the Arbitrum Foundation, and the growth prospects unlocked by an aggressive osETH expansion to Arbitrum, the team believes that matching the incentives would be the right move.

The deployment and the grant provide StakeWise with a new growth impulse, and an extra 3 months for restoring momentum and helping reduce the incentives burden on the SWISE token. Without the grant, StakeWise would need to pursue expansion to Arbitrum with its own efforts, which is likely to be significantly more costly.

In light of these considerations, we believe that accepting the grant and matching the incentives is a great way to get osETH started on Arbitrum, and urge DAO members to vote in favour of the proposal.

Vote Yes if you support the matching of incentives by StakeWise.