TIP-104: Velodrome new bribes trial

id	Title	Status	Author	Description	Discussions to	Created
TIP-103	Velodrome LP incentives trial	Draft	Danijel	Double the THALES amount used to bribe USDC pool and introduce a THALES-ETH pool that would be bribed with 25% of Arrakis rewards for 4 weeks for comparison	https://discord.gg/rPpPcMXSeU	2022-11-18

Abstract

This TIP proposes to double THALES-USDC bribes on Velodrome from 10k THALES a week to 20k THALES while maintaining all the other rules established with TIP-85.
It also proposes to start bribing a new pool of THALES-ETH with one quarter of the treasury costs for Arrakis pool incentives for 4 weeks which would be 10k THALES and 4k OP a week. This pool would not be voted in by Thales treasury VeVelo NFT.

Motivation

After lengthy governance discussions there seems to still be a lot of contention about how THALES liquidity should be incentivized mostly around the capital efficiency of Arrakis vs Velodrome.
I believe the best way to assess this is to offer tangible metrics for comparison while not futher reducing Arrakis pool rewards during the data capturing period.

The trial has two aspects to it. The first one is to double the bribes on the USDC pool that is backed by Thales VeVelo NFT and capture the TVL increase that this would incur measured in the amount of THALES in the THALES-USDC Velodrome pool. At the time of writing this TIP the Velodrome pool has 750k THALES in it.

The second aspect is establishing a THALES-ETH pool (or WETH, whatever is used for other Velodrome ETH denominated pools) that would be bribed with 25% of Arrakis weekly incentives to compare how a 25% cost to THALES treasury compares TVL wise between Arrakis and Velodrome.

Specification

Double the bribes per TIP-85 for Velodrome THALES-USDC pool from 10k to 20k THALES. The program is ongoing unless voted otherwise.
Bribe a THALES-ETH pool with 10k THALES and 4k OP a week for 4 weeks. The program is to be reassessed after the end and seizes unless otherwise voted in by governance.

Implementation

n/a

Copyright

Copyright and related rights waived via CC0.