GIP-24: 1st phase 50K GNO Incentives Program for Gnosis Chain as proposed in GIP-16

GIP-24: 1st phase 50K GNO Incentives Program for Gnosis Chain as proposed in GIP-16

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GIP: 24
title: Initiate the GNO Incentives Program for Gnosis Chain as proposed in GIP-16
author: Karpatkey
status: phase 2
type: Meta
created: 2022-02-01
requires: GIP-16, GIP-20

Simple Summary

  • Request an initial GNO disbursement from the GnosisDAO to continue the original xDAI incentives program and slightly increase them until we launch the main GNO incentives program.
  • Improve rewards for high priority protocols: Core Infrastructure, Bridges, Money Markets.
  • Make sure the GNO rewards are distributed in a way that improves GC network effects and financially aligns the incentivised protocols with the GnosisDAO treasury.

Abstract

Previous to the xDAI-Gnosis merge, several teams proposed STAKE incentives proposals which are currently active:

After the GIP-16, the STAKE rewards were converted to GNO and the additional GNO requirements to honour the STAKE commitments were funded with GNO from the remaining Gnosis Ltd’s funds.

In Dec 2021, Gnosis Ltd transferred its treasury to the GnosisDAO (See announcement and GIP-20).

GIP-16 set the basis for a major incentives program. 400K GNO were originally proposed.

This proposal intends to request an initial GNO disbursement to fund our commitments in the short term and allow the works required for the main/full program to be finished.

14-Mar-22 Edit:
The GNO allocation would be used to transfer incentives in the Gnosis Chain to bridges, validators, and protocols such as the ones below. This proposal needs to be approved in order to prevent a discontinuation of the GNO incentive program:

  • Curve
  • Agave
  • Elk
  • Hop
  • Azuro
  • Dappnode
  • Avado
  • Swapr
  • Dehive
  • Cowswap
  • Lido
  • dxDAO
  • Symmetric

Motivation

Bootstrap liquidity, foster network effects, attract users and developers.

Tentative GNO Liquidity Mining Goals on GC for 2022 (KPIs)

  1. Number of Accounts: Increase user/investor base, X% of Ethereum? Competitor networks?
  2. Number of Txs: Increase onchain activity, X% of Ethereum? Avalanche? Polygon?
  3. TVL: Attract capital, X% of Ethereum? (TVL)
  4. Investments or token swaps: Align economic incentives of the GnosisDAO treasury with previous goals (Investments on incentivised protocols).

Why an initial incentives proposal instead of the main incentives proposal?

The main blockers to launch the main program are:

  1. Current negotiations with high profile protocols haven’t concluded yet
  2. In house/GC native DeFi protocols still under development
  3. Bootstrap liquidity on bridges still hasn’t concluded
  4. GNO holders and major stakeholders alignment still in progress

Main Incentives Program Proposal

Specification

  • Initial/short term program: GNO allocation for initial incentives program.
  • Timeframe for the execution: Q2-Q3 2022
    14-Mar-2022 Edit:
  • Incentive Allocation: 50k GNO

Implementation

  • Allow Karpatkey to use idle GNO from the treasury to continue sending GNO to current protocols on a weekly or monthly basis.
  • Coordinate with high priority new protocols for partnerships, token swaps and investments. This would be presented to the GnosisDAO as new proposals.

Phase 3 edit:

GnosisDAO Snapshot

https://snapshot.org/#/gnosis.eth/proposal/0x9c53b972174d6947627b37ffa332bd9301b9f5d8328e8de62b63a601b71d0656

9 Likes

When is it known this total initial incentives amount?

How can we check which protocols will be having $GNO rewards? Why isn’t it announced here on forum or other venue? (your twitter page or GnosisDAO one, or some discord)

So far I count DeHive, HOP and Curve providing $GNO rewards, how can we track this? Amounts, timeline, etc.

Thanks!

2 Likes

GNO
What is the standard for airdrop

We have edited this post adding the amount of the allocation (50k GNO)

Should the proposal be postponed until the situation with Agave is resolved?

GIP-24 is live on Snapshot!
https://snapshot.org/#/gnosis.eth/proposal/0x9c53b972174d6947627b37ffa332bd9301b9f5d8328e8de62b63a601b71d0656

Thanks for this proposal and incorporating more details as to the amount of additional incentives and the specific protocols that will receive rewards. Is there a plan and tentative timeline to address the issues preventing initiation of the original 400k GNO incentive plan?

Is there a policy around posting details regarding use of funds to a forum post that can be edited versus posting directly in the snapshot? Given the amount of funding, it seems this proposal should be formalized via a final snapshot proposal rather than linking to a forum post.

Why is the GNO incentive on https://xdai.curve.fi/ zero?

Sometimes there are a few hours a week where the distribution contract has 0 GNO. We will work to improve this. @matrixgame.eth

GIP-24’s data payload execution failed due to an outdated module that is no-longer enabled.

It was approved with 105% of the quorum needed: Snapshot

  • withdraw 50K GNO from GnosisDAO Vesting Contract
  • send 50K GNO to GnosisDAO Daughter Safe (0x849D52316331967b6fF1198e5E32A0eB168D039d)

@0x703 Once Agave is restarted, they will continue being part of the rewards program.

@lavande We are building detailed spreadsheets with the txs including GNO sent to the protocols.

will GBC validators get an Freebee like round one?(that i missed)

Thank you. That solves my problem

hi,bro.
When will lock GNO’s Vecow be airdropped? Will vecow also be unlocked for four years?