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Synapse ProtocolSynapse Protocolby0xF0B5859d6A4Ff0e51261D3658d803320821bCA410xF0B5…CA41

[SIP -35] - Synapse Emissions Proposal

Voting ended about 2 years agoSucceeded

Motivations: At the dawn of SynapseRFQ, SynapseX, and SynapseCCTP all launching and gaining market share, we should re-evaluate Synapse DAO emissions to be more capital efficient, and encourage the use of bridge modules that offer cheaper quotes without SYN spend.

Current SYN spend is as follows:

Arbitrum - 142,560 BSC - 51,429 Polygon - 32,400 Optimism - 51,840 Canto - 21,429 Avalanche - 17,143 Base - 57,024 Metis - 15,000

Total: 388, 825

https://synapseemissionsdashboard-3d76b3202ae7.herokuapp.com/

Proposal: Reduce Polygon emissions by 40% to 20,000 SYN /mo Reduce Base emissions by 25% to 38,880 SYN/mo Reduce Arbitrum emissions by 10% to 128,304 SYN /mo Reduce Optimism emissions by 20% to 41,472 SYN/mo Reduce Avalanche emissions by 30% to 12,000 SYN /mo Reduce Canto emissions by 60% to 6,000 SYN/mo

More information around methodology and reasoning can be found at the discussion below.

Off-Chain Vote

For
5.13M SYN99.7%
Against
0 SYN0%
Abstain in favor of alternative
15.65K SYN0.3%
Quorum:103%
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Discussion

Synapse Protocol[SIP -35] - Synapse Emissions Proposal

Timeline

Feb 26, 2024Proposal created
Feb 26, 2024Proposal vote started
Feb 29, 2024Proposal vote ended
Feb 29, 2024Proposal updated