Posted on behalf of the mStable ProtocolDAO
It is motioned to continue the reward distribution as specified in MCCP 4 with the amendment MCCP 7 for the weeks 35 to 41, starting from 30th August 2021 until the last distribution under this MCCP on the 11th October 2021. The amount of rewards for these 6 weeks is to be decided by MTA Governors. The options that are included in this vote are listed below.
MCCP 4 proposed a prospective emission schedule over the next few years and a set of rules to follow in order to calculate weekly distributions. MCCP 7 later amended it and carved out a portion to distribute on Polygon. The proposal MCCP 8 extended that emission to 6 more weeks.
This MCCP motions to continue the reward emission window for 6 weeks, starting from 30th August 2021 until the last distribution on the 11th October 2021 with reduced weekly emissions of [TBD Amount].
The emission of rewards is a key part of the mStable ecosystem. Not only does it bind liquidity, but also rewards participation and usage of the mStable protocol - It allows protocol users to become owners. An extension of the mentioned rewards is vital for keeping the returns of mStable products competitive.
With the upcoming release of staking v2, a long-term emission plan will be a more suitable solution. This fits directly into the later planned release of reward gauges, which would increase automation and require less micromanagement. The continuation of the rewards under the current methodology allows mStable core contributors, community and Governors to reach a consensus on a long term emission plan for MTA that factors in more complex factors such as a longer reward emission epoch, staking v2, reward gauges design and a data-driven approach to how MTA rewards are accruing value to the mStable protocol.
This proposal will be taken to snapshot vote on Monday, 23rd August 2021. Voting will be open for a 5 days window to give adequate time for a concurrent discussion. Governors can change their vote at any time should the discussion sway their decision. We look forward to hearing what MTA token holders have to say and seeing how they cast their votes.
The following choices will be available in the MTA Snapshot vote:
- 242,308 MTA (no change)
- 225,000 MTA
- 207,692 MTA
- Another amount/reject