GIP-243 — Extend GEAR Incentives for the wstETH Lending Pool
AI summary
This proposal suggests continuing to provide 10 million GEAR tokens per month as incentives for the wstETH lending pool on Gearbox for another six months. The wstETH pool, which holds approximately $95 million in assets, has demonstrated strong growth and high utilization since its inception, indicating significant borrower demand. The goal is to maintain this positive momentum and prevent a potential decline in assets and borrowing capacity if incentives were removed.
If passed, the Gearbox DAO will allocate 60 million GEAR tokens (10 million per month for six months) to continue incentivizing the wstETH pool. This benefits users who provide wstETH to the pool by offering them additional rewards, and it helps maintain the pool's size and utility for borrowers. If it fails, the pool's growth may slow, and its total value locked (TVL) could decrease.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Author
apeir99n
Summary
This proposal aims to extend GEAR rewards to the wstETH passive pool on Ethereum for next 6 months. The pool has shown strong organic growth and utilisation since launch. Removing incentives now could lead to a significant drop in TVL and reduce borrower capacity.
Motivation & Pool Performance
GIP-222 approved LM rewards on wstETH pool, which resulted in good traction metrics of this pool. The wstETH pool is currently one of the most successful on Gearbox:
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Supplied: ~$95M and steadily growing
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Utilization: consistently above **50%…