Governance Update #4
Snapshot voting is live for AIP-49!
AIP-49 Emissions Adjustments (Olympus Pro Bonds and TOKE Farming)
The first of several proposals aiming to restructure Alchemix tokenomics, AIP-49 focuses on ALCX emissions and revenue generation. Two changes are up for vote in this proposal:
Pause all Olympus Pro Bonds (totalling 30% of ALCX emissions).
Utilise future treasury-farmed TOKE to accumulate more CRV.
Pausing the Olympus Pro Bonds, and directing those emissions to the DAO instead, should relieve some sell pressure as a result of dumping the rewards from bonding. Directing this ALCX to the treasury will allow the protocol to use them more efficiently when the broader market conditions improve.
The second part of the proposal seeks to slow the accumulation of TOKE in favor of accumulating more CRV. Alchemix is already well positioned as a TOKE holder, and part of the current harvest can be swapped for CRV. This will help the protocol to achieve a better balance between short-term and long-term Protocol Owned/Controlled Liquidity.
The combination of these two changes should help Alchemix to be more sustainable in the immediate future, while preserving the ability to scale up in the long term in line with Tokemak’s ongoing expansion. Read the proposal for more specifics on how both of these voting options work.
Since the last update…
AIP-47 was voted on here and all proposed vaults were accepted. The core team are now approved to perform launch a selection of informally reviewed but unaudited vault strategies as they are ready. Launches will be in accordance with the guarded/constrained requirements identified in the proposal.
AIP-48 passed with 100% of the vote, allowing the Alchemix core team, together with the Alchemix BizGov SubDAO, to allocate the full amount of Alchemix TOKE votes according to the best offers. The team will now work to provide a follow-up, after detailing the final voting allocation. The team will also provide a rationale behind the distribution.