Proposal #681

Remove second stage of USDC incentive migration

Exec Legacy Content
passed
Expected result
Passed
Turnout / Quorum
79.76% / 20.00%

Voting period

Voting ended100.0%
Voting start 2023.11.12 at 11:35:52
Voting end 2023.11.17 at 11:35:52

Vote distribution

96.60%
159 739 026 osmo
Yes
0.48%
786 209 osmo
No
0.00%
1 026 osmo
Veto
2.92%
4 830 459 osmo
Abstain

Details

logo
Proposer
-
Total deposit
1 600 osmo
Submit time
2023.11.12 at 11:35:52
Deposit end time
2023.11.26 at 11:35:52

Description

This proposal would redirect the second stage of the USDC incentive migration process to the Community pool. \n## Background \n Proposal 648 called for incentives on the OSMO/USDC.axl pool to be moved to the newly IBC native OSMO/USDC pool in two stages. \nThe second stage occurs with the routine incentive proposal for November 2023. \n\nThis proposal asks that these incentives not be added to the OSMO/USDC pool but be redirected to the Community Pool. \n\nThe reasoning for this is that the OSMO/USDC Pool currently receives 3,213 OSMO per day, or 29% of all Incentive emissions, and yet has only attached $224k Liquidity despite high incentive rates. \n\nThe routine incentives proposal increases this to 5,700 OSMO per day, leading to a more inefficient use of Incentive spend. \n\nThis proposal would adjust the pool incentives as if the second migration had not been added by setting the OSMO/USDC incentives to 2,850 OSMO per day and redirecting the excess to the Community pool. \n\nForum Thread: https://forum.osmosis.zone/t/remove-second-stage-of-usdc-incentive-migration/586)

Votes

Voter
Answer