With the recent increase in CFG price which seems to have stabilized, the current CFG APR for Tinlake investors has surged to around 55-60%. We are also close to depleting the remainder of the CFG tokens reserved for Tinlake liquidity rewards. Therefore, I am proposing to mint an additional 1 million CFG tokens for Tinlake liquidity rewards and decrease LP and AO rewards by 20%. Also included in this proposal would be the liquidity rewards distribution improvements as detailed here
Please vote in the poll below
Mint an additional 1 million CFG tokens for Tinlake liquidity rewards and decrease LP and AO rewards by 20%
I think we should also ratify the discussion I started around modifying how rewards are paid out in this thread: RFC: Improve Liquidity Rewards Distribution - #8 by lucasvo such that we can ratify these in one go.
Generally though I think the adjustment is justified and I am in favor of it.
I agree with the proposal made by Ash but I suggest to create another proposal what should happen to the CFG-rewards not distributed to unlinked accounts. Based on the previous Request for comments linked under consideration of the comments made
Wouldn’t that be a bit premature to start a vote on what to do with unclaimed CFG?
I mean, the people affected will still be notified by mail and given 60 days notice to claim.
Maybe it could be a better approach to at least wait for a couple of weeks after the emails have been sent to see the reactions.
Just my thoughts.
What is the approximate time frame for switching to a new reward rate? A month, two, three?
As we can see, the price has not completely stabilized (as of 10/08/2021).
As an idea.
Maybe we could make an approximate lock of revision of awards every 2-4 (3-6) months so that the investor has and understands a clear investment plan?
Yes, absolutely right and this was a conclusion from the feedback on the request for comments in the forum thread. That’s why my suggestion to create two different proposals
What’s the target CFG APR? We keep decreasing the rewards recently maybe we could also increase it if the target APR is not met
The reward distribution improvements are intended to be included in this proposal as well
We have used the 1 million CFG tokens minted for liquidity rewards since the last proposal, so this proposal is to mint an additional 1 million CFG which will provide rewards for another several weeks
Good point. (As a self-interested investor?) I favor leaving the rewards as is for now, to give time for price stabilization. But go ahead and mint more tokens for LP and AO rewards. Reward changes and minting should be separate proposals. The need for more tokens is clear; different considerations apply to reward levels. Because a “yes” vote is a vote for both, I vote “no.” Also, what to do with unclaimed CFG should be decoupled from this proposal. Good governance necessitates separate consideration and debate of these three issues. Voting on each item separately will better reflect their respective merits.
Thank you Ash for your reply.
What about the 2nd part? Any ideas, reply, suggestions?
Yes I agree about separate polls, can’t edit the poll now but will create a new post with separate polls
Minting 1 million CFG will provide rewards for about 50 days at the current rate, so minting say 2 million would provide rewards for about 3 months. A lot of price volatility could happen in 3 months but we could just create a separate proposal before that time, the mint and reward rate proposals don’t need to be voted together either so I think its a good consideration