Update INST Staking Allocation
AI summary
This proposal seeks to update how 1 million INST tokens, previously allocated for staking rewards, will be distributed. It specifically allocates 250,000 INST to the Gelato Uniswap V3 INST/ETH LP 1 pool and another 250,000 INST to the Uniswap v3 Staker contract for liquidity mining until January 15, 2022. The remaining 500,000 INST will be reserved for future liquidity mining initiatives with other automated market makers (AMMs) and exchanges. Additionally, liquidity mining rewards for the Gelato Uniswap V3 INST/ETH Pool LP 2 will cease on September 15, 2021.
If passed, this proposal will redirect a significant portion of the 1 million INST token allocation, totaling 500,000 INST (approximately $1.5 million at current prices), to specific liquidity pools, benefiting users who provide liquidity there. The remaining 500,000 INST will be held for future strategic partnerships, potentially benefiting new liquidity providers or the protocol's reach. Users in the Gelato Uniswap V3 INST/ETH Pool LP 2 will stop receiving rewards after September 15, 2021.
Voting results
Votes over time
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🐳 Whale votes
4 votes > 5% VPFull proposal
Summary
This snapshot is to find community agreement with changes to the current G-UNI reward pool. A community on-chain vote IGP#4 extended the LM rewards for staking and allocated 1m INST for staking rewards. This vote is to define that allocation of the 1m INST rewards. This snapshot requires 1m votes to achieve quorum.
Description:
The following is the updated breakdown for the 1m Staking rewards:
- Allocates 250k INST to Gelato Uniswap V3 INST/ETH LP 1 pool for liquidity mining rewards through January 15, 2022.
- Allocate 250k INST to Uni…