Re-allocate MTA rewards from either mUSD/USDC 50/50 pool or mUSD95/MTA5 pool to Curve mUSD/3Pool
Curve Finance has added an mUSD/3pool Meta Pool to their platform that sees equal parts mUSD and 3pool [USDT, USDC, and DAI] deposited with CRV rewards for liquidity providers, which launched 14 October 2020 after a positive Curve DAO vote. This pool is incentivised with CRV through the LiquidityGauge.
This pool will act as a major source of trading volume for mUSD given that it benefits from StableSwap [PDF] design and the existing liquidity in the 3pool.
This discussion is focused on re-allocating the existing 10,000 MTA rewards from either mUSD/USDC 50/50 pool or mUSD95/MTA5 pool (or 5k from each) and re-allocating them to the mUSD/3pool Meta Pool on Curve.
Plan would be to have a brief discussion to decide on parameters for the vote, before opening up on Snapshot on Friday, ending on Sunday
Initial ideas for poll structure: Vote 1: yes / no (with 55% seen as a majority vote), Vote 2: 10k from USDC / 10k from mUSD95 / 5k from each
Over 50% of MTA holders voted in favour of incentivizing the pool in a recent poll. However, it became clear that the ambiguity over where the potential MTA would come from, the poll choices, and other items had a negative impact on many individual’s perceptions of the discussion and poll. In an attempt to address that, the community has identified a source for the MTA that could be allocated to the mUSD/3pool Curve pool that would not result in additional MTA being emitted.
Arguments For :
The Curve AMM is far more efficient than Balancer’s, as identified by angelangel0v.
Curve has allocated CRV rewards to the pool.
Moving MTA from an existing pool avoids further dilution of MTA
Arguments Against :
As we have now identified a specific source for MTA, I don’t believe there are any.