#56 Release Incentive Grants to Taiga 3-Pool

Context

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.

  • Remove temporary reward proxy: ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
  • the incentive consisits of 10,000 taiKSM and 85,486.4 LKSM, managed by Grant Vault account via governance: ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
  • the liquidity consists of 17,075 LKSM, which will be managed by the aUSD Vault proxy: qqtn8NAj74sX5HRLWs6C84LadAFw3oVTxy7Ao2dmoCK2kCF

Content

  • Taiga 3-pool reward receipient address: rw4Z6pgCGnewR88bzK2Qw1wd1UXM69DNNBjEWx3UdZmMqws

  • This proposal will distribute the incentives evenly in 12 tranches

    • the first batch: 7,213.86 LKSM and 833.33 taiKSM
    • remaining will be evenly distributed (833.33 taiKSM and 7,115.68 each tranche) via on-chain scheduler
    • the scheduled distribution can be halted by governance in case of any emergency or unexpected events
  • 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

proposal call

  1. remove the incentive proxy authorities granted by vault(ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89) to
    the temporary operator(pkGemTHxxdkg9inXsLzi8dVcRJXNbaYTNHAVQzGk9XcYjYN)

  2. 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).

Referendum