Mint PERP to Sunset V1 Users

This proposal aims to allocate PERP to fully compensate all users who lost funds in Perp V1 by minting PERP. We propose for the PERP to start vesting linearly over 12 months (with a cap of 3.3% of circulating supply being released each month). Emissions will start on the next first of the month 4 months after the vote finishes. Minting is on Mainnet, and emissions are on Gnosis Chain (xDai).

It’s crucial to come to a solution that rings close to fair, especially for V1 users, as they were massive contributors to the early growth of Perp Protocol. It is also only right to have safety of user funds as the forefront of protocol’s mandates.

Voting Options:

Proposal 1: Mint PERP and fully compensate everyone proportionally (A cap of 3.3% PERP tokens will be released each month)

Proposal 2: Support minting PERP tokens for V1 users but not this proposal

Proposal 3: Against minting PERP tokens for V1 users

*the price of PERP will be a 7-day TWAP of the last week of every month which will be used to calculate the amount of PERP that should be minted to make all of V1 users whole each month

To check how much funds will be distributed to each user (Margin + unrealized PnL according using index price and slippage according to original k values.): https://gateway.pinata.cloud/ipfs/QmW81zQScrCpPomxCttBmLgsqpsyuhviwk9zLHeKq7Mg6v