TL-DR : Let the core team adjust liquidity mining for the rest of the campaign with optimistic governance
As stated in PuRe 1, we have gathered data to optimize the distribution of PAL for deposits.
Reminder : The LM campaign was created to push the deposit pools to proposal threshold, this goal hasn’t been reached yet, but some pools have clearly shown progress
Let’s look at the performance pool by pool :
StkAave is our flagship pool that illustrates the composability we’re striving for with Paladin Lending. LM has been a major success with continuous growth (+248% in one month).
On the other hand, and logically, the Aave pool has not taken off (+27%)
All in all, Paladin can lend roughly 16% of proposal threshold.
Uniswap (+2%) and Compound (+6%) pools have been disappointing with a few whales dominating the pools.
The Idle pool has been a huge success with +1500% growth and nearly 90% of proposal threshold deposited.
Initially, we wanted to hand out a bi-weekly report as such, discuss her with the community, vote and then modify the program each time. We have come to realise that this modus operandi is very inefficient to quickly adapt the LM program.
Reduce COMP pool to 10k PAL / month ;
Reduce AAVE pool to 10k PAL / month ;
Reduce UNI pool to 75k PAL / month ;
Raise StkAAVE pool to 100k PAL / month ;
Allocate 20k PAL / month for palStkAave integrations to benefit from LM externally (to be voted via governance) ;
Additionally, we will keep posting such reports on a bi-weekly basis but would like the community to give a mandate to the core team to execute via optimistic governance (inspired from friends at Lido). We’ll submit the report and our recommended modifications and the community will have 72h to shut us down if there is a large belief another path should be optimal.
We believe that Paladin should focus on specific assets and concentrate marketing, BD and integrations on them to foster adoption of vote lending. StkAave is in a prime position for this.
Additionally, current LM doesn’t reward people who use their palStkAave in other protocols (ie : APWine), granting an external budget would allow them to allocate rewards to these integrations.
On optimistic governance, we believe introducing this system for very specific tasks will allow the DAO to avoid the over-administration problem that is often found in more traditional organisations, while keeping in place the permanent veto the community should have on operations.
None outside of gas spendings to adjust mining output.
A 72h vote will be put out on a bi-weekly basis with all the LM modifications, if community votes past the threshold, the modifications will be postponed until a formal vote passes.
This optimistic execution method is solely for the 3 month LM program, and we will keep posting a bi-weekly update on the LM program performance.
Voting Options :
Yes / No / Abstain