Proposal #648

Migration of Incentives from USDC.axl pools to USDC pools

Exec Legacy Content
passed
Expected result
Passed
Turnout / Quorum
76.79% / 20.00%

Voting period

Voting ended100.0%
Voting start 2023.10.03 at 15:40:49
Voting end 2023.10.08 at 15:40:49

Vote distribution

93.63%
149 041 440 osmo
Yes
0.06%
89 627 osmo
No
0.00%
835 osmo
Veto
6.31%
10 052 158 osmo
Abstain

Details

logo
Proposer
-
Total deposit
1 600 osmo
Submit time
2023.10.03 at 15:40:49
Deposit end time
2023.10.17 at 15:40:49

Description

This proposal asks that the incentives program migrates from incentivizing USDC.axl pools to the equivalent IBC native USDC pairings. \n## Background \nWith Proposal 624, Osmosis governance has recognized IBC native USDC via Noble as the canonical version of USDC. \n\nThis status comes with the promise that the canonical status of USDC will receive higher incentives than the non-canonical version. \n\nThis proposal would cause the transfer of incentives from the currently incentivized USDC.axl pools to the equivalent newly created USDC supercharged pools over a period of at least two weeks, culminating in removing the USDC.axl pools from the incentives system. \n\n* OSMO / USDC.axl, 1133, 0.2%, Receiving 5,370.63 and migrating to OSMO / USDC, 1221, 0.2% \n* USDC.axl / USDT, 1080, 0.05%, Receiving 89.22 and migrating to USDT / USDC, 1220, 0.05% \n* USDC.axl / USDT, 1081, 0.01%, Receiving 89.22 and migrating to USDT / USDC 1220, 0.05% \n\n Table \n\nAs there is no bonding period for Supercharged liquidity pools and the Transmuter is in place for users to easily transfer their position between these pools, the two-week period only applies to the OSMO/USDC.axl pool, which is still undergoing migration from the original bonded Classic pool. \n\nThis proposal, therefore, directly transfers all native incentives from the USDC.axl/USDT pools to the new USDT/USDC pairing as well as directly transferring half of the current OSMO incentives from the OSMO / USDC.axl pool to the new OSMO / USDC pool. \n\nThe remaining incentives in the OSMO / USDC.axl pool will be moved to the OSMO / USDC pool in the next routine incentives proposal, expected at the start of November. \n\n Forum Post: https://forum.osmosis.zone/t/migration-of-incentives-from-usdc-axl-pools-to-usdc-pools/398

Votes

Voter
Answer