Executed October 31st, 2022
Before the Rewards Manager is launched, the Algofi DAO will approve allocations of BANK emissions on a monthly basis. Since the voting period is 2 weeks from October 17th - October 31st, this proposal concerns emissions from October 31st - November 30th.
After the voting period for this proposal passes, a new proposal for allocating emissions will be launched for voting by the community, which will concern emissions from November 30th - December 31st.
Users are encouraged to voice their opinions on future emission allocations in the Temperature Check category of the governance forum to ensure they are taken into consideration for preparing emissions proposals. Ultimately, this process will be automated on chain with the Rewards Manager.
The motivation is to promote the growth of liquidity on the Algofi lending protocol and DEX.
Emission allocations can be found below.
Begin BANK emissions to Lending markets, Lend and Earn contracts, Staking contracts, and the Algofi vault.
|USDC Market Lend and Earn Supply||23.5%|
|USDT Market Lend and Earn Supply||5%|
|ALGO Market Borrow||1%|
|USDC Market Borrow||2%|
|goBTC Market Borrow||0.5%|
|goETH Market Borrow||0.5%|
|USDT Market Borrow||1%|
|STBL2-USDC-LP Market Supply||32.5%|
|STBL2-ALGO-LP Market Supply||8%|
|STBL2-goBTC-LP Market Supply||4%|
|STBL2-goETH-LP Market Supply||4%|
|USDC-ALGO LP Market Supply*||4%|
|ALGO Vault Supply||10%|
|STBL2-BANK-LP Staking Contract**||4%|
* If the first proposal for launching the USDC-ALGO Lending Pool does not pass, the percentage of emissions allocated to USDC-ALGO as noted above will be redistributed pro-rata (according to percentage allocated) to the other contracts (e.g. in option B the USDC Market Lend and Earn Supply will get 21% / 97% * 3% = 0.64% if the USDC-ALGO proposal does not pass).
** A STBL2-BANK Lending Pool will be launched ahead of the governance launch on Friday, October 14th
EDIT (10/20/22): As discussed in a comment below, the original proposal erroneously stated the launch of emissions as 10/28 but given the proposal closes at 10/31, this is an unambiguous error and not possible. The dates have been adjusted accordingly to reflect a start date of 10/31.