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Synapse ProtocolSynapse Protocolby0x49551C9E8eCaEc17d1EB09bFc42cf47379dC80970x4955…8097

[SIP - 40] - Reducing Yearly Emissions by 2.3 Million SYN (66% reduction)

Voting ended over 1 year agoSucceeded

With the successful launch and adoption of SynapseRFQ, SynapseX, and SynapseCCTP, it's time to optimize Synapse DAO emission spend to more capital-efficient levels. SynapseRFQ already makes up 80% of bridge volume, which should reduce reliance on traditional liquidity based bridging. These newer bridge modules offer cheaper quotes without requiring SYN emissions, allowing us to significantly reduce emissions while maintaining service quality.

Proposed monthly emissions adjustments:

Major Reductions: Arbitrum: 40,000 SYN (-69%) BSC: 20,000 SYN (-61%) Optimism: 8,000 SYN (-81%) Base: 8,000 SYN (-79%) Blast: 10,000 SYN (-70%)

Moderate Reductions: Avalanche: 6,000 SYN (-50%) Canto: 0 SYN (-100%, replace with POL)

Maintain Current: Polygon: 20,000 SYN (positive ROI) Metis: 15,000 SYN (subsidized)

Total New Monthly Emissions: 127,000 SYN ($63,500 at $0.50/SYN) Total Reduction: 66% in emissions, 66% in USD cost

More Details: https://forum.synapseprotocol.com/d/2084-synapse-emissions-reduction

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Discussion

Synapse Protocol[SIP - 40] - Reducing Yearly Emissions by 2.3 Million SYN (66% reduction)

Timeline

Dec 02, 2024Proposal created
Dec 02, 2024Proposal vote started
Dec 05, 2024Proposal vote ended
Dec 05, 2024Proposal updated