STP-14: Incentivize USDC LP on Base Andromeda


Simple Summary

This STP allocates SNX to kick start liquidity provision on Base Andromeda.


Allocate 35k SNX over 8 weeks to incentivize USDC deposits on Base Andromdeda.


Base Andromeda is ready scale up, and in order to reach its potential requires a significant increase in USDC liquidity.



This STP allocates 35k SNX over 8 weeks to incentivize USDC deposits. A rewardsDistributor contract will be required to be deployed and registered, and will be defined by the appropriate SCCP.


Incentivizing the Spartan Council pool is expected to attract more USDC, which in turn allows perp Open Interest caps to be increased, attracting traders and kickstarting the organic fee yield. Weeks 3-8 at current SNX price would yield 15% APR on ~$5.5m USDC.

Financial Specification

35k SNX will be allocated to this pool for a trial of 8 weeks. During the trial period this figure may be adjusted or extended by the treasury council.

Interval Reward LP for 15% APR, $SNX @ $3.20
Week 1 2k SNX/week $ 2,218,666.67
Week 2 3k SNX/week $ 3,328,000.00
Weeks 3-8 5k SNX/week $ 5,546,666.67
Total 35k SNX

The TC will send 35k SNX to the deployed and registered rewardsDistributor contract.

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