VBP9 - Setup liquidity rewards for all new arb USDT settled markets

VB9 - Setup liquidity rewards for all new arb USDT settled markets

Previously all markets settled in ethereum USDT used to have some sort of associated rewards to incentivise market makers to provide liquidity.

As a matter of fact, a pool of 1000 $VEGA was shared daily for providing liquidity on the SUI, ARB, SNX, LDO, INJ and TIA markets. Another pool of 1500 $VEGA was shared between the SOL, ETH and BTC markets.

We propose to implement the same rewards, using the community funds this time to incentivise liquidity on the new arbitrum USDT settled markets.

The framework is slighlty different as we propose instead to reward 200 $VEGA per day, for each of SUI, ARB, SNX, LDO, INJ and and TIA (separate transfers instead of a single one) and 500 $VEGA per day for SOL, ETH and BTC, also separately instead of being a single transfer.

We propose to run these incentive for a duration of 60 days to start with, starting from tuesday 25th of June (epoch 957) and vote closing on Monday leaving time for the review and voting process for this proposal.

Here’s the proposal:

{
  "batchProposalSubmission": {
    "rationale": {
      "title": "VBP9- Setup liquidity rewards for all new arb USDT settled markets",
      "description": "VBP9- Setup liquidity rewards for all new arb USDT settled markets (https://community.vega.xyz/t/vb9-setup-liquidity-rewards-for-all-new-arb-usdt-settled-markets/4548)"
    },
    "terms": {
      "closingTimestamp": "1719226800",
      "changes": [
        {
          "enactmentTimestamp": "1719226800",
          "newTransfer": {
            "changes": {
              "sourceType": "ACCOUNT_TYPE_NETWORK_TREASURY",
              "transferType": "GOVERNANCE_TRANSFER_TYPE_BEST_EFFORT",
              "amount": "200000000000000000000",
              "asset": "d1984e3d365faa05bcafbe41f50f90e3663ee7c0da22bb1e24b164e9532691b2",
              "fractionOfBalance": "1",
              "destinationType": "ACCOUNT_TYPE_REWARD_LP_RECEIVED_FEES",
              "recurring": {
                "startEpoch": "957",
                "endEpoch": "1017",
                "dispatchStrategy": {
                  "assetForMetric": "2a1f29de786c49d7d4234410bf2e7196a6d173730288ffe44b1f7e282efb92b1",
                  "metric": "DISPATCH_METRIC_LP_FEES_RECEIVED",
                  "windowLength": "1",
                  "entityScope": "ENTITY_SCOPE_INDIVIDUALS",
                  "individualScope": "INDIVIDUAL_SCOPE_ALL",
                  "transferInterval": "1",
                  "lockPeriod": "7",
                  "distributionStrategy": "DISTRIBUTION_STRATEGY_PRO_RATA",
                  "markets": [
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                  ]
                }
              }
            }
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        },
        {
          "enactmentTimestamp": "1719226800",
          "newTransfer": {
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              "amount": "200000000000000000000",
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              "fractionOfBalance": "1",
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                  "windowLength": "1",
                  "entityScope": "ENTITY_SCOPE_INDIVIDUALS",
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              "fractionOfBalance": "1",
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                  "windowLength": "1",
                  "entityScope": "ENTITY_SCOPE_INDIVIDUALS",
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          "newTransfer": {
            "changes": {
              "sourceType": "ACCOUNT_TYPE_NETWORK_TREASURY",
              "transferType": "GOVERNANCE_TRANSFER_TYPE_BEST_EFFORT",
              "amount": "500000000000000000000",
              "asset": "d1984e3d365faa05bcafbe41f50f90e3663ee7c0da22bb1e24b164e9532691b2",
              "fractionOfBalance": "1",
              "destinationType": "ACCOUNT_TYPE_REWARD_LP_RECEIVED_FEES",
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                  "distributionStrategy": "DISTRIBUTION_STRATEGY_PRO_RATA",
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    }
  }
}

Here’s a more convenient version of this proposal to review.

Hi, I don’t think it’s necessary. The Vega team delivers 5k Vegas to liquidity providers on a daily basis. It would be better to use the funds for other things in the future. Here is the link for you to verify: https://vegaprotocol.eth.limo/#/rewards

That’s a good point, I had prepared this proposal a few days ago and forgot to submit it.

However I realised just after submission that new transfers for rewards had been setup for the new markets.