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.
ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89qqtn8NAj74sX5HRLWs6C84LadAFw3oVTxy7Ao2dmoCK2kCFTaiga 3-pool reward receipient address: rw4Z6pgCGnewR88bzK2Qw1wd1UXM69DNNBjEWx3UdZmMqws
This proposal will distribute the incentives evenly in 12 tranches
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
remove the incentive proxy authorities granted by vault(ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89) to
the temporary operator(pkGemTHxxdkg9inXsLzi8dVcRJXNbaYTNHAVQzGk9XcYjYN)
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).
Taiga protocol will receive funds to distribute as incentives to LP participants in the 3-pool (USDC-USDT-aUSD) stablecoin. The incentives consist of 10,000 taiKSM and 85,486.4 LKSM, which will be distributed in 12 tranches over a 12-month period. The first batch will include 7,213.86 LKSM and 833.33 taiKSM, and the remaining batches will be evenly distributed via an on-chain scheduler. The exact amount to be distributed each period to LPs will be determined by Taiga protocol based on various factors. The proposal includes removing the temporary reward proxy and initiating a scheduler to transfer the funds to the 3pool rewards vault. The referendum can be found at https://karura.subscan.io/referenda/56.