- Let’s do this!
- Make no changes
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
- 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.
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.
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:
Bootstrap liquidity, foster network effects, attract users and developers.
- Number of Accounts: Increase user/investor base, X% of Ethereum? Competitor networks?
- Number of Txs: Increase onchain activity, X% of Ethereum? Avalanche? Polygon?
- TVL: Attract capital, X% of Ethereum? (TVL)
- Investments or token swaps: Align economic incentives of the GnosisDAO treasury with previous goals (Investments on incentivised protocols).
The main blockers to launch the main program are:
- Current negotiations with high profile protocols haven’t concluded yet
- In house/GC native DeFi protocols still under development
- Bootstrap liquidity on bridges still hasn’t concluded
- GNO holders and major stakeholders alignment still in progress
- 400K GNO were originally proposed. This is the main/long term proposal
- Initial/short term program: GNO allocation for initial incentives program.
- Timeframe for the execution: Q2-Q3 2022
- Incentive Allocation: 50k GNO
- 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: