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Proposal overview

Set LDO, stMATIC, MaticX and SD Emission_Admin for Polygon v3 Liquidity Pool

Executed

Executed on 

Dec 17, 2022

Summary

Assign the Emission_Admin role for the LDO, stMATIC, MaticX and SD tokens on the Polygon v3 deployment.

Abstract

The following teams seek to distribute rewards across the Polygon v3 Liquidity Pool:

  • LDO by the Liquidity Mining Committee to support the adoption of stMATIC
  • SD by Stader Labs to support the adoption of MaticX
  • stMATIC & MaticX by Polygon Foundation to adoption of staked MATIC receipt tokens

In order to achieve this, the EmissionManager contract needs to assign an owner to the Emission_Admin permission allowing LDO, SD, stMATIC, and MaticX rewards to be distributed.

Motivation

The motivation of the proposal is to enable rewards to be distributed on the Polygon v3 Liquidity Pool.

The Lido Liquidity Mining Committee determines the emission rate and duration at which LDO rewards are offered. Standard practice is for the council to meet and determine the next 30 days of LDO rewards on a rolling basis. This means each month, the committee will determine if to extend the LDO rewards, or change the amount of LDO being offered across the Polygon v3 Liquidity Pool.

The Stader Labs team will determine the emission rate and duration SD rewards are offered. This will likely be influenced by the Aave DAO’s ability to adjust the wMATIC and MaticX risk parameters that enable users to generate a return from leverage the MaticX / wMATIC loop.

The Polygon Foundation team will determine the emission rate and duration at which stMATIC and MaticX rewards are offered. This will likely be influenced by Aave DAO’s ability to adjust the wMATIC, stMATIC and MaticX risk parameters that enable users to generate a return from leverage the stMATIC / wMATIC and MaticX/wMATIC loop.

The Emission_Admin is not limited to a specified Reserve and is linked to the token being distributed across the Liquidity Pool. The EmissionManager determines the Emission_Admin. The Emission_Admin can distribute said token anywhere across the Aave v3 Polygon Liquidity Pool.

The respective governance forum discussion is linked below:

Specification

This proposal assigns the Emission_Admin using the setEmissionAdmin(address reward, address admin) function.

LDO Address Reward: matic:0xC3C7d422809852031b44ab29EEC9F1EfF2A58756 LDO Address Admin: matic:0x87D93d9B2C672bf9c9642d853a8682546a5012B5

SD Address Reward: matic:0x1d734A02eF1e1f5886e66b0673b71Af5B53ffA94 SD Address Admin: matic:0x51358004cFe135E64453d7F6a0dC433CAba09A2a

stMATIC Address Reward: matic:0x3A58a54C066FdC0f2D55FC9C89F0415C92eBf3C4 stMATIC Address Admin: matic:0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263

MaticX Address Reward: matic:0xfa68FB4628DFF1028CFEc22b4162FCcd0d45efb6 MaticX Address Admin: matic:0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263

References

Test cases can be found here

Payload Implementation can be found here

Proposal Payload = 0x7E8f833D23e19E88e3781Ca913d674a2D5178FA1

Copyright

Copyright and related rights waived via CC0.

Your voting info

Voting results

YAE

548,867

AAVE

100.00%

NAY

<1

AAVE

<0.01%

Top 10 addresses

Votes

State
Executed

Executed on 

Dec 17, 2022
Quorum
Reached
Current votes

Required

548.86K

320.00K

Differential
Reached
Current differential

Required

548.86K

80,000.00

Total voting power

16,000,000

Proposal details

Created

Block

12 Dec 2022, 14:35 UTC +00:00

16169259

Started

Block

13 Dec 2022, 14:45 UTC +00:00

16176459

Ended

Block

16 Dec 2022, 06:45 UTC +00:00

16195659

Executed

17 Dec 2022, 14:34 UTC +00:00

Author

Llamax - Matthew Graham & defijesus