SCCP 45: Lower iETH rewards to 0K and add to RewardsDistribution Source

AuthorClinton Ennis
Discussions-Togovernance
StatusProposed
Created2020-08-31

Simple Summary

Decrease the iETH SNX rewards incentive from 32k SNX to 0k SNX per week and add it to the RewardsDistribution contract from the inflationary supply.

Abstract

The iETH trial incentive has run for several months being paid by the synthetixDAO at a consistent rate of 32,000 SNX per week. Given the value of this incentive in balancing the debt pool the iETH incentive should be included in the weekly inflationary supply rewards distribution.

Configure the RewardsDistribution to add the iETH contract address to automate the distribution of SNX weekly. The amount is to be determined by another SCCP.

Motivation

The synthetixDAO cannot fund this incentive forever and the iETH incentive mechanism is important to all SNX stakers to help netualize the shared debt pool.

With SCCP-42 proposing to reduce sUSD SNX incentive from 24K to 8K there is no negative impact on SNX stakers weekly staking rewards.

Copyright and related rights waived via CC0.