Introduction: Our community has been discussing ways to improve our current strategy of using POL (~400k) for bribes in the form of farmed BAL. We have determined that this method is not ideal due to the high level of dilution it causes.
Proposal: In order to address this issue, we propose upgrading the veTETU contract with a simple change. Specifically, we propose depositing the underlying BPT to a specific vault that has already been created (0x6922201f0d25Aba8368e7806642625879B35aB84). The mechanics of the vault will remain the same, with a portion of the rewards going towards bribes and a portion going towards buying tetuBAL (currently, 90% goes towards bribes and 10% goes towards buying tetuBAL).
Bribes generated through this new method will be used to vote for the TETU/USDC pool. Any remaining bribes that are generated (if any) will be kept in reserve and their use will be determined at a later date.
Off-Chain Vote
Yes
27.73M veTETU100%
No
886.05 veTETU0%
Timeline
Jan 10, 2023Proposal created
Jan 10, 2023Proposal vote started
Jan 14, 2023Proposal vote ended
Nov 13, 2025Proposal updated