Activation Date for Yield Farming V2 Temperature Check

Temperature Check
1

The on-chain proposal for Yield Farming v2 has passed it’s onchain vote, and Sundae Labs has been hard at work in parallel implementing the code neccesary for that proposal.

You can follow our development of the open source components here:

With that, this temperature check is for a proposal to officially launch the program and establish the opening emission rate.

Please use the attached poll to indicate an interest in seeing this poll go live as an on-chain vote.

Summary

Sundae Labs has nearly finished implementation of the yield farming program. We propose launching the program by enabling lockups on {the day voting for this proposal ends, expected Thursday, July 6th}, and assigning rewards for the first time 3 business days later. We also propose specifying several small details that were left unspecified in the original proposal.

There will be four options for this proposal:

  • Do not launch the yield farming program as specified
  • Launch the yield farming program with the suggested clarifications, and a daily emission of 118,430 SUNDAE, with the first rewards assigned on {date}.
  • Launch the yield farming program with the suggested clarifications, and a daily emission of 296,007 SUNDAE, with the first rewards assigned on {date}
  • Launch the yield farming program with the suggested clarifications, and a daily emission of 444,115 SUNDAE, with the first rewards assigned on {date}

Clarifications

The following details were under-specified in the original proposal; this was discovered during implementation. It is our opinion that each one of these doesn’t materially change the proposal.

  • When evaluating which pools should receive emissions based on the delegated SUNDAE, perfect ties will be broken in favor of the pools with the fewest LP tokens issued; perfect ties in issued LP tokens will be broken in favor of the smaller pool identifier.

  • When dividing emissions among the selected pools, and distributing the last fraction of a SUNDAE, the sorting order will be first by the amount of delegation they received, and then by the lesser pool identifier.

  • When dividing emissions from a pool among the LP token holders for that pool, and distributing the last fraction of a SUNDAE, the sorting order will be by the Blake2b-224 hash of the owner field in the position.

  • The governance vote every 90 days to update the emissions will be started 70 days into the period, run for 15 days, and go into effect on the 91st day.

Conclusion

Please indicate below whether you would like to see an on-chain vote for this proposal. Per the governance procedures, once we receive 20 “Interested” votes, we will create the on-chain proposal for voting.

  • Interested - Proceed to an on-chain vote

0 voters

2 Likes
2

This proposal has passed, with 12.1M SUNDAE voting for a daily emission of 441,115.

From July 10th to October 7th, we will allocate yield farming rewards according to the spec at an emission rate of 441,115.

On September 17th, we will start a new governance proposal to adjust emissions; this proposal will end on October 2nd, and October 8th will be the first day that rewards with the new emission rate will be assigned.

Closing this thread.

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