Proposal #531

Reset Community Pool allocation to 0

Exec Legacy Content
passed
Expected result
Passed
Turnout / Quorum
62.14% / 20.00%

Voting period

Voting ended100.0%
Voting start 2023.06.13 at 19:01:12
Voting end 2023.06.18 at 19:01:12

Vote distribution

91.56%
117 936 397 osmo
Yes
0.43%
556 837 osmo
No
0.00%
4 554 osmo
Veto
8.01%
10 316 784 osmo
Abstain

Details

logo
Proposer
-
Total deposit
1 600 osmo
Submit time
2023.06.13 at 18:06:20
Deposit end time
2023.06.27 at 18:06:20

Description

This is a follow-up proposal from the set of three Tokenomics proposals, implementing these parameter changes with the thirdening rather than via software upgrade. \n\nThis is Proposal 1 of 3 which will implement Proposal 485, Part 2, by reducing the weighting of incentives gauge 0 that currently goes to the community pool to 0. As incentives weighting changes take 1 epoch to change emissions, this will not impact emissions at the epoch of June 18th but will on June 19th. \n\nUsers should be aware that this will show pool APRs as being around 3x what they will be at the next epoch until that epoch has passed. \n## Details\nThe original tokenomics proposals were:\n Proposal 484: Lengthen OSMO Emission Schedule\n Proposal 485: Adjust the Ratio of Emissions\n Proposal 486: Decrease the Superfluid Risk Factor to 25%\n\nThese proposals had a slight cut to the Max supply as well as the fact that the max supply would rely on the update date which is not fixed. \n\nThis proposal, along with 2 other proposals, would implement these Proposal results as on-chain parameter changes. \n\nThese parameter changes bring more certainty to proposal implementations rather than relying on an arbitrary upgrade date which is now later than the originally estimated May 7th in the original model and is likely to be closer to the existing Thirdening date (June 19th)\n\nProposal 1 is placed on chain on the 13th June, scheduled to finish on the 18th June before epoch. \n\nThis will implement Proposal 485, Part 2, by reducing the weighting of incentives gauge 0 that currently goes to the community pool to 0. As incentives weighting changes take 1 epoch to change emissions, this will not impact emissions at the epoch of June 18th but will on June 19th. \n\nUsers should be aware that this will show pool APRs as being around 3x what they will be at the next epoch. \n\nProposal 2 is placed on chain on the 14th June, scheduled to finish on the 19th June, before epoch. \n\nThis will adjust the Thirdening effect so that all emission reductions take place on the same epoch - the first of the next emissions period. \n\nThis proposal will implement Proposal 484 part 1, Proposal 485 Part 1, and Proposal 486 by:\n* Increasing the reduction at the thirdening to two thirds\n* Adjust the Emissions Ratios to 20% Pool Incentives, 50% Staking Rewards\n* Reduce the Superfluid Risk Factor to 25%\n\nProposal 3 is placed on chain on the 14th June, scheduled to finish on June 19th, after epoch, allowing the Thirdening event to trigger. \nThis will implement Proposal 484 Part 2:\n* Revert the Thirdening effect back to a third reduction\n* Increase the Thirdening length to 2 years\n\nThe model of the effect on supply is here: https://docs.google.com/spreadsheets/d/1-p7607pIH_jKvtNN6pp0ZXNZeNZI8H-BhnEjJgcuCn8/edit?usp=sharing\n\nThese proposals have all been tested on localosmosis and run successfully with different implementation epochs as below, confirming which epoch respective to the thirdening epoch these parameter changes need to be implemented in to work successfully. \n\n Tested timeline on localosmosis\n\nThis translates to the following schedule as above on Mainnet:\n Timeline to be implemented\n\nCommonwealth Thread: https://commonwealth.im/osmosis/discussion/10681-tokenomics-upgrade-proposal

Votes

Voter
Answer