TIP-20b Amendment to MAGIC LP Incentives

Amend Sushi LP rewards downwards by approximately 30% to reduce unnecessary inflation to MAGIC. Rationale In line with TIP20 which was published prior to MAGIC’s listing across a number of major exchanges such as Binance, Coinbase, OKX, Huobi, Gate.io, etc; we look to further reduce Sushiswap LP incentives.

Trading volumes across CEX have stabilised in the weeks following listing across Binance, Coinbase, et al., and now accounts for 80~90% of all MAGIC trading volume. Furthermore, the DAO owns over 70% of the liquidity in the Sushiswap MAGIC/ETH pool, reducing the need for excess LP subsidies in maintaining sufficient liquidity for day-to-day activities.

Proposal Propose the following amendments to TIP20 Sushiswap LP incentives: End Dec to Feb: 500k → 350k End Feb to Mar: 400k → 280k End Mar to Jun: 300k → 210k End Jun to Sep: 250k → 175k End Sep to Dec: 200k → 140k

Reward amounts are monthly totals. The changes will take effect in the week following ratification of this proposal.