PGM-64: Extend veSPECTRA lock

Summary: Max extend our veSPECTRA

Context:
Paladin currently has 1,600,000 veSPECTRA locked until december 2025, considering the new tokenomics and the growth of Rings scAssets it might be more profitable for us to max lock than wait for unlock.

Rationale:
Spectra trading fees are changing from 50% to Curve and 50% to LPs into 20% Curve / 20% LPs / 60% veSpectra. This means the protocol is transforming itself into a ve(3,3) system where directing emissions to a pool pays if they are high yielding.

The scUSD pool has been live for 15 days and has raked in 4500$ of fees, that’s 65,000$ of incentives for veSpectra holders, annualized. Considering we plan to reiterate this play for scETH and scBTC, expect this to not only cover most incentives needed for the pool to self incentivize, but also a way for Paladin to create another revenue stream from Rings.

At current prices, veSPECTRA has been teased to bring in 65% in fees, which confirms the above simulations.

Means:

  • Add 3 years of lock;

Voting Options:
For / Against / Abstain

  • For
  • Against
  • Abstain
0 voters
1 Like

I think its a really good idea. I use Spectra and think it has a good UI and good potential for the Sonic/Rings ecosystem, and since we already have the tokens, better than selling them now/soon, when the mcap is way down.