Proposal #776
Passed on 01 May 2024 with 93.9% of the votes for yes.
Yes
93.9%
99.5% without abstain
Veto
0.0%
of votes cast
Ended
01 May 2024
93.86%
of votes cast
5.71%
of votes cast
0.43%
of votes cast
0.00%
of votes cast
This proposal removes the parameters that allow the creation of seven-day and fourteen day uptime Incentives on Supercharged pools.
The decision to introduce uptime incentive durations in [Hidden link] was to enable incentives to generate liquidity breadth and depth. These incentives require a position to exist for a specified period before it can claim any accumulated incentives. Incentives forfeited before the uptime is reached are redistributed amongst other liquidity providers in the active tick, encouraging positions to be wide enough to remain in range for the full uptime.
Each specified uptime requires an accumulator to be run, increasing network overhead. Therefore, the number of uptimes is kept as low as possible.
Preliminary usage of Uptime Incentives has seen the most usage in the one-minute and one-hour uptimes, with some usage of the one-day uptime but only one usage of the fourteen-day uptime, which has seen poor adoption and no usage of the seven-day uptime.
This proposal directly prevents the creation of new seven-day and fourteen-day gauges and signals approval of removing these accumulators in a future software upgrade.
If any seven-day or fourteen uptimes exist during the upgrade handler of the upgrade in which these accumulators are removed, any incentives remaining within the gauges will be refunded to the loading address.
New accumulators to replace these between the one-minute and one-day Uptimes may be added in a future software upgrade, but these will need to be approved for use by another parameter update proposal in the same manner as Proposal 737 authorized the accumulators added in the [Hidden link].
Forum Thread: [Hidden link]