Governance Update #49

Snapshot voting is live for AIP-111!

AIP-111 Alchemix Sustainability Framework

Status: AIP-111 is up for a snapshot vote until July 5, 2024 at 20:00 UTC

This proposal outlines a comprehensive sustainability framework for Alchemix, focusing on ensuring adequate funding for the treasury, managing ALCX emissions effectively, and defining priorities for revenue allocation. Currently, Alchemix earns revenue primarily from three sources: The Elixir AMOs, the 10% fee on all yield, and treasury yield-farming positions. If passed, AIP-111 will implement mechanisms that provide the protocol with an adequate funding runway through treasury assets, buybacks of ALCX used for vote incentives to prevent excessive depletion of ALCX in the treasury, and potential purchase of protocol-owned alAsset liquidity, which will later generate veALCX revenue. Additionally, the multisig will be running two trial vaults with Gauntlet’s Aera product, which automatically manages funds in a non-custodial manner. The goal with Aera is to reduce the amount of manual intervention to optimize the DAOs assets to utilize the highest yield strategies available. This proposal also details a plan for ALCX vote incentive quantities, which will be modified each epoch. Given the size and scope of this proposal, be sure to read it fully and vote! If passed, the framework will be implemented in stages.

Since the last update…

AIP-110 passed a snapshot vote, approving a donation of 15 ETH to Roman Storm & Alexey Pertsev's legal defense fund.