Proposal #224

Reallocate half of the Incentives on LUNA/UST (#562) to OSMO/DAI (#674) & approve the pool for Osmosis incentives

Exec Legacy Content
passed
Expected result
Passed
Turnout / Quorum
48.96% / 20.00%

Voting period

Voting ended100.0%
Voting start 2022.05.12 at 18:46:42
Voting end 2022.05.17 at 18:46:42

Vote distribution

94.08%
95 481 290 osmo
Yes
0.44%
444 813 osmo
No
0.01%
8 926 osmo
Veto
5.47%
5 556 564 osmo
Abstain

Details

logo
Proposer
-
Total deposit
500 osmo
Submit time
2022.05.12 at 18:40:53
Deposit end time
2022.05.26 at 18:40:53

Description

Osmosis is the Interchain DEX, which necessitates the purpose of having strong liquidity for many of the top market cap coins./n In order to improve ecosystem economics, we propose an acceleration of the process to diversify the Osmosis liquidity to more stablecoins and major assets outside of just the Cosmos ecosystem./n Recent events have shown a need for further accelerating the timelines for the already existing plans) of getting incentives that precede liquidity for such assets./n The recent UST depeg has shown that Osmosis would benefit from having liquidity reserves of multiple stablecoins available./n DAI is one of the most popular decentralized stablecoins available and is based on an overcollateralized CDP based system, and is now bridge-able to Osmosis via Axelar. Transferring half of the Osmosis Incentives on LUNA/UST (#562) to OSMO/DAI (#674) should quickly diversify the stablecoin liquidity on Osmosis./n To prevent this change from reverting at the next semi-automatic incentives proposal, a temporary cap will be put in place of a maximum of 3.265% of Osmosis incentives to be allocated to LUNA/UST (#562) and a temporary minimum of 3.265% of Osmosis incentives be allocated to OSMO/DAI (#674). The temporary minimum should last until the May 23rd incentive adjustment (exclusive)./n/n * By voting YES on this proposal, OSMO stakers voice their support for reallocating a portion of incentives on LUNA/UST (#562) to OSMO/DAI (#674)./n/n * By voting NO on this proposal, OSMO stakers voice their dissent for reallocating a portion of incentives on LUNA/UST (#562) to OSMO/DAI (#674)./n/nCommonwealth Thread: https://gov.osmosis.zone/discussion/4867-proposals-for-shifting-a-portion-of-liquidity-incentives-from-ust-and-luna-towards-usdc-dai-and-eth

Votes

Voter
Answer