Proposal #753
Passed on 23 Mar 2024 with 96.1% of the votes for yes.
Yes
96.1%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
23 Mar 2024
96.07%
of votes cast
3.90%
of votes cast
0.03%
of votes cast
0.01%
of votes cast
This proposal would directly remove OSMO incentives from stIBCX pairings. /n/n## Background /nOsmosis governance removed incentives from most pools in [Hidden link]. stIBCX maintained incentives due to its recent launch, and due to being composed of other assets that maintained incentives. /n/nstIBCX is the only non-Quote asset currently incentivized by Osmosis in a non-derivative pairing. /n/nAs can be seen in the [Hidden link], the Liquidity Provider Fee Subsidy Rate is currently 500%, meaning that these pools are incentivized by 1 OSMO for every 0.2 OSMO of fees paid to LPs. /n/nThese high subsidy rates are intended to be a short-term bootstrapping mechanism and stIBCX has not reached self-sustaining liquidity or volume in six months. Similarly, this lack of volume means that Osmosis is still well below the breakeven point for emissions, spending 15x what is generated from Taker Fees. /n/nAs stIBCX liquidity [Hidden link] over the past six months, this proposal asks that the Osmosis incentive spend on this grouping be ended as an inefficient spend with no resulting liquidity increase. /n/nForum Thread:[Hidden link]