Extend INDEX liquidity mining incentives for the DeFi Pulse Index (DPI) Set for 1 month.
Create a new INDEX liquidity mining program for the DeFi Pulse Index Set with the following parameters:
- Program runs for 30 days (from ~12PM PDT, December 7th 2020 until ~12PM PDT January 7th 2021).
- Liquidity mining releases INDEX at a target APY rate of 30% for a target pool size of 30M (i.e. $15M ETH, $15M DPI).
- Using the 20-day rolling average price of INDEX at $6.47, a total of 115920 INDEX tokens will be distributed over 30 days.
- 115920 INDEX tokens represents 1.15% of total INDEX supply.
The DeFi Pulse Index currently has fairly high liquidity on the Uniswap ETH - DPI pool. This is in part due to the liquidity mining incentive program. High Uniswap liquidity allows users and third party integrators to confidently enter and exit DPI positions.
The current liquidity mining incentive program ends on December 6th. This proposal seeks to extend liquidity mining incentives with a new liquidity mining program to continue growing distribution and adoption of the DPI.
- Extend liquidity mining incentives for the DPI set according to the parameters above.
- Do not extend liquidity mining incentives for the DPI set according to the parameters above.
The deployed smart contract being used for the current liquidity mining program can not be re-used for the proposed liquidity mining extension. To benefit from the new liquidity mining program, users will be required to migrate their Uniswap ETH DPI LP tokens to a newly deployed contract.
The proposed smart contract for distributing liquidity mining rewards functions exactly the same way as the current liquidity mining smart contract:
- Users deposit ETH and DPI into the Uniswap ETH - DPI pool and receive Uniswap ETH DPI LP tokens.
- Users deposit their Uniswap ETH DPI LP tokens into the proposed Index Coop liquidity mining contract.
- Users receive INDEX tokens in proportion to the quantity of ETH DPI LP tokens deposited.
The newly deployed contract will be identical to the original liquidity mining contract except for the INDEX distribution quantity (115920) and the program duration (Dec 7th - Jan 7th).
Copyright and related rights waived via CC0.
- FOR - Extend liquidity mining incentives for the DPI set according to the parameters above
- AGAINST - Do not extend liquidity mining incentives for the DPI set according to the parameters above.