The goal of this SIP is to define a V3 tokenomics/reward model and to test pilot that system on Base before a larger role out.
This SIP proposes a V3 system in which there is one test pool on Base A Spartan Council Pool: Accepts ETH as collateral. It would provide rewards as follows:
- 60% of all rewards go to SNX Stakers.
- 20% of all rewards go to LPs.
- 20% of rewards go to integrators.
This reward pool system provides us a method by which to onboard ETH collateral without overly diluting the value of SNX, or rewarding the value of idle SNX too much.
In order to onboard ETH as collateral, we'll need to be able to reward LPs. The current debate has been between how much of the fees should go to SNX stakers versus to LPs. Which comes down to the question:
- Do we need to pay users to borrow, or is borrowing enough of a value add?"
The challenge becomes if SNX stakers are idle stakers without debt we are overpaying for minimal protocol gain.This model lets us scale ETH LP while still capturing strong fees for ETH stakers and fairly rewarding partners.
Eth collateral rate for each pool TBD
Status changed as per the authors' request
Copyright and related rights waived via CC0.