Decrease cvp inflation by decreasing the cvp mining rewards in existing pools starting 28th June to 28th July.
CVP inflation has been extremely rampant in the past months. With tester tokens being unlocked and no clear leadership being taken over the cvp mining reward inflation, the total supply of cvp has crossed above 22.5 million. CVP’s inflation is akin to a central government printing machine, what’s the point? We need to work together to stop cvp bleeding.
This proposal is focused on assessing the mining rewards for the currently active pools: ASSY, CVP-ETH, YLA, PIPT-ETH
- CVP-ETH 0.6cvp/block
- ASSY 0 cvp/block
- PIPT/ETH 0 cvp/block
- YLA 0.35 cvp/block
1- The impermanent loss in this pool is quite aggressive given how poor cvp has performed in the bull market and then putting it against eth makes it rough for LPs. Also to incentive liquidity for this important and necessary pool, coupled with its impermanent loss the rewards have been decreased slightly compared to other pools.
2- This pool has been going on for sometime now and needs to come to an end now, just like pipt and yeti cvp pools came to an end. Assy’s sushi staking is already here as well. With the new product vision, assy will be one of the funds that will be removed totally with pipt and yeti too.
3- pipt-eth is part of the onsen program so they are getting onsen rewards. This is much like the yla-usdc pool that was deprecated. A similar thing should be done to deprecate pipt-eth. With zap coming soon and gas fees decreasing it is an unnecessary pool here.
4- This pool is very attractive for a lot of people, and especially in this market. It should gradually be decreased like all other pools in the past have been. It should not go to 0 so quickly (after the 27th).
Edit: There is another proposal, proposal 38 live right now, that states that YLA rewards should be extended for one more month. I’m not sure that is a wise idea. I think my proposal is a healthier outcome for everyone, still keeping YLA rewards but not overdoing it since its been steadily going on for three months now.