PGM-12-2 : Extending Liquidity Mining Program (Formerly PGP-12)

Paladin Governance Management (PGM) PGM - Approved
1

Summary: Use 875,000 PAL to keep incentivising deposits until the end of the year.

Context:
Our DAO currently has distributed 1,000,000 PAL in the past 6 months to incentivize deposits, as per PURe 1. The program is officially running its course today.

While the main goal of reaching proposal power has not been reached yet, Paladin has significantly grown, with over 60,000 stkAave under management. We believe we need to keep the campaign running to keep a dominant position in the vote lending industry.

Rationale:
Aave is in beginning to rethink their tokenomics and we believe that being one of the largest “holders” of StkAAVE is going to significantly advantage Paladin to provide services on top of these tokenomics in a few months.

Additionally, we would like to use this budget to attract funds on new pools and to incentivize Warden usage eventually.

We also believe that cutting incentives now, when the market is bleeding, would heavily push people to leave our platform.

For this reason, we want to renew the campaign, with 100,000 hPAL / month (current distribution configuration, as per Adujstments #5) +25,000 hPAL for upcoming campaigns.

Means:

  • 875,000 PAL (125,000 hPAL were sent pre-emptively to avoid having a period without incentives).

Sustainability:
This program will be reviewed at the end of the year.

Voting options:
Yes / No / Abstain

2 Likes
2

Do you have Data on how deposits have changed over time? More frequent, larger deposits, etc.

Also where are you seeing this:

Is this via Governance or through private conversations?

2 Likes
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some information is available on this dashboard: https://dune.com/jjnnbbtt/Paladin.vote
It does seem like we have plateaued since mid march with regards to stkAAVE deposits.

I’m curious as well about the potential changes to AAVE’s tokenomics… :face_with_raised_eyebrow:

2 Likes
4

@Figue You always forget to make a poll at your post :rofl:

In my opinion, I think it is important to continue the LM as incentives (Especially since the warden quest started), so it’s a YES for me.

1 Like
5
  • Yes
  • No

0 voters

1 Like
6

The current distribution is 80K PAL/month for Paladin lending StkAave, 20K/month for Curve palStkAave pool, and 5K/month for APWine so 105K/month.

Considering that it would make 130K/month with the reserve for upcoming campaigns, I assume thae plan is to stop the LM there on the next batch.
I’m for continuing the liquidity mining program, including the APWine pools, at least until we discussed the token swap, especially considering that it was already reduced twice in two months from 15 to 5k/month in less than two months.

There was no marketing made on this pool (mostly because the PAL APR wasn’t displayed, but it’s now visible since a few days)
As the token swap can take some time to be discussed and voted, and because it’s hard to estimate the exact timeline, i’d suggest to use an extra 10K PAL to continue the program the next two months, then we can evaluate the situation to see if there was some improvement

7

Missing abstain ser haha

8

Ok, since we have begun discussions to make that token swap happen, let’s keep the LM going until foreclosure of the deal / with a 2 months deadline.

Everything else seems okay, we will push the vote to tonight

1 Like
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Vote is up !
https://signal.paladin.vote/#/proposal/0xbd4d58869d33a53b757ad088ff75ae98580766fd0073056135c651c1e6214309

10

In this case, the vote should be 885K PAL right ?

11

880,000, token swap should be done pretty soon.