Summary
Extend the CVP boost program for YLA through the end of 3Q21 with tapering down of rewards to avoid a hard landing and to allow the team to get the new products ready and available.
Abstract
I want to make a proposal to extend the YLA boost but taper down the rewards rather than a sudden stop.
Motivation
The pool allocation has been a success, and given the bear market in the rest of crypto, including the rest of DeFi, I think we can use this as a marketing tool to hook potential participants in PPDEFI, BSCDEFI, and ALTL1POOL. Come for the stables, stay for the growth potential and innovation in the new pools.
I also recognize the concern that many have had about CVP inflation and that we are paying out too many tokens too quickly. In that context, I propose a linear tapering of rewards, rather than a sudden stop, to keep some of the investors interested rather than leading to a mass exodus at once.
Specifications
Extend the CVP boost program as follows, with no changes to eligibility ranges of CVP:YLA. Percentages below are expressed as a proportion of current levels as per Proposals 36, 38, and earlier.
100% of current levels from the end of current program until 23:59 UTC 15th Aug 2021 (3 weeks)
75% of current levels until 23:59 UTC 31st Aug 2021
50% of current levels until 23:59 UTC 15th Sept 2021
25% of current levels until 23:59 UTC 30th Sept 2021
Rewards to stop after that, at which point some of the new pools will be live and we can discuss a successor to YLA as part of the new vision or leave it as a standalone product, which is more efficient than using Yearn pools independently for most cases.
