#56 - Release Incentive Grants to Taiga 3-Pool
Democracy
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Executed

Context

Upon setting up Keyless Vault to receive and manage the Kusama Treasury grant to bootstrap the stablecoin 3-pool (USDC-USDT-aUSD) (see details in this proposal), the first proxy to mint incentives in LKSM and taiKSM will then be destroyed. This proposal is to release the funds in 12 tranches over 12-month period to Taiga protocol, who will be responsible to distribute them for the 3-pool LP participants.

  • Remove temporary reward proxy: ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
  • the incentive consisits of 10,000 taiKSM and 85,486.4 LKSM, managed by Grant Vault account via governance: ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
  • the liquidity consists of 17,075 LKSM, which will be managed by the aUSD Vault proxy: qqtn8NAj74sX5HRLWs6C84LadAFw3oVTxy7Ao2dmoCK2kCF

Content

  • Taiga 3-pool reward receipient address: rw4Z6pgCGnewR88bzK2Qw1wd1UXM69DNNBjEWx3UdZmMqws

  • This proposal will distribute the incentives evenly in 12 tranches

    • the first batch: 7,213.86 LKSM and 833.33 taiKSM
    • remaining will be evenly distributed (833.33 taiKSM and 7,115.68 each tranche) via on-chain scheduler
    • the scheduled distribution can be halted by governance in case of any emergency or unexpected events
  • The exact amount to be distributed each period to the LPs are at the discretion of Taiga protocol based on performance, market conditions, participation and other factors. See more details here

proposal call

  1. remove the incentive proxy authorities granted by vault(ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89) to
    the temporary operator(pkGemTHxxdkg9inXsLzi8dVcRJXNbaYTNHAVQzGk9XcYjYN)

  2. initiate a scheduler: the first trigger on #2662000 (2022-07-14 05:36 +UTC), 175400 blocks between each trigger, a total of 11 triggers. Every trigger will execute that transfer 833.33 taiKSM and 7115.68 LKSM from vault(ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89) to 3pool rewards vault(rw4Z6pgCGnewR88bzK2Qw1wd1UXM69DNNBjEWx3UdZmMqws).

Referendum

https://karura.subscan.io/referenda/56

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Metadata
Proposer
Hash
Delay
02022-06-18 11:55:42
End
02022-06-18 10:47:12
Threshold
Call
Table
Json
callIndex0x0302
sectionutility
methodbatchAll
args
calls
0
callIndex0x0303
sectionutility
methoddispatchAs
args
asOrigin
system
signedogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
call
callIndex0x0502
sectionproxy
methodremoveProxy
args
delegatepkGemTHxxdkg9inXsLzi8dVcRJXNbaYTNHAVQzGk9XcYjYN
proxyTypeAny
delay0
1
callIndex0x0200
sectionscheduler
methodschedule
args
when2262000
maybePeriodic
0175400
111
priority0
call
value
callIndex0x0303
args
as_origin
system
signedogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
call
callIndex0x0302
args
calls
0
callIndex0x0c00
args
dest
idrw4Z6pgCGnewR88bzK2Qw1wd1UXM69DNNBjEWx3UdZmMqws
currency_id
tokenLKSM
amount0x0000000000000000001947ac5abc4000
1
callIndex0x0c00
args
dest
idrw4Z6pgCGnewR88bzK2Qw1wd1UXM69DNNBjEWx3UdZmMqws
currency_id
stableAssetPoolToken0
amount833330000000000
TimelineLatest activity undefined
2022-06-16 04:39:12
Started
referendumIndex
56
voteThreshold
SimpleMajority
2022-06-18 10:47:12
Passed
referendumIndex
56
2022-06-18 11:55:42
Executed
result
ok
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