[Proposal] TRU for Gas reimbursements

Proposal:

Fund up to 40,000 TRU to reimburse users' gas costs associated with ongoing TrueFi pool migrations. If funded, this program will reimburse users who migrate funds by 11/1/21 0:00 UTC as specified by the proposal below.

Objective:

Reimburse ~90% of gas costs (capped at 50 Gwei) for users who complete each or all of the following migrations:

• legacy tfTUSD pool → new tfTUSD pool & liquidity gauge
• existing tfUSDC farm → liquidity gauge
• existing tfUSDT farm → liquidity gauge

Budget:

• Total budget: up to 40,000 TRU (~$20k USD as of posting)
• TRU tokens to be allocated from the TRU supply’s unallocated incentives
• Reimbursements are allocated on a first-come, first-served basis for users who migrate by 11/1/21 0:00 UTC

Program Details:

• Users who migrate existing tokens to new liquidity gauge and/or the new tfTUSD pool + liquidity gauge receive TRU as reimbursement for gas costs
• Amount of TRU received based upon flat gas reimbursements per migration, gas prices at time of migration, and TRU and ETH prices at time of migration. See below for details

Gas reimbursement amounts per migration (flat rates):

• 1,470,000 gas per TUSD pool + farm migration
• 450,000 gas per USDC farm migration
• 450,000 gas per USDT farm migration

Mechanics:

• Gas will be converted to ETH at the median gas price for the day (UTC time) in which the migration was completed, up to a maximum of 50 Gwei
• ETH transaction costs will be converted to TRU at the average daily TRU/ETH price on Sushiswap
• Eligible users: wallets must migrate at least 500 tfTUSD, at least 50 tfUSDC, or at least 50 tfUSDT to receive reimbursement. This aims to avoid overcompensation (e.g. it’s not intended to reimburse someone $100 in TRU for moving $1 worth of tfTUSD).
• Only 1 migration per token per wallet will be reimbursed (i.e. one wallet moving multiple chunks of tfTUSD only receives one reimbursement)
• Reimbursements will be distributed to wallets within 7 days of the conclusion of the program at 11/1/21 0:00 UTC

References:

Original forum thread: https://forum.truefi.io/t/idea-reimburse-gas-fees-for-migrations/746