On September 30th the proposal to add $500k in $STAKE rewards to the Agave protocol passed. You can read more here.
There were 2 parts of this agreement:
- matching the rewards with $500k in AGVE and
- add the $STAKE token to the Agave protocol and to be used for collateral.
This proposal is requesting the support of adding $500k in AGVE incentives paid out over 1 year period distributed amongst depositors, borrowers, and stakers (staking incentives will be included in a separate proposal). The majority of these incentives will go towards Depositors and a much smaller percentage to Borrowers. As a reference Aave currently uses a 10x to depositors to 1x to borrowers. I would propose a slight increase to the borrowers but not by much maybe an 8:1
The actual amount request is only for 1 month $500k / 12mo / $170/AGVE = 245AGVE - 45 set aside for staking = 200 AGVE.
Please see the link above for the details on the KPI metrics. The first month is intended to bootstrap the protocol so TVL >$0 will payout 100% and $STAKE token market cap >$0 will payout 100%.
- Yes
- No
0 voters
This proposal was written quickly, I look forward to hearing from the community