persistence

Prop 89: Fix PSTAKE incentive schedule for Dexter pools for April 2024

This proposal intends to fix an operational error during the previous incentivization proposal for Dexter pools for April 2024 and to rectify the issue by allocating the PSTAKE incentives to the correct pool.

What went wrong?

Due to an issue of oversight during the creation of the incentivization specification for the reward schedule proposal, 35,000 PSTAKE rewards were allocated to the SHD-XPRT pool rather than the stkSTARS-STARS pool as mentioned in the proposal copy.

What are we suggesting to fix it?

We are fully committed to upholding the decisions made by the PSTAKE community regarding the April 2024 incentivization plan. To ensure there is no disruption to the intended rewards structure, Persistence Labs is allocating the additional 35,000 PSTAKE rewards from their treasury.

To further ensure transparency, we are taking these steps:

  1. We will create a UI for the community to view the rewards for each pool as stored in the Governance Admin contract escrow so that the community can transparently view the rewards allocated to each pool before voting on the proposal to ensure 2-step verification of rewards allocation and minimize human error.
  2. We will automate the reward schedule creation process with an optimized frontend without any chances of human error to ensure no such issues occur in the future.

What this implies for the community

The SHD-XPRT pool on Dexter will continue receiving the wrongly allocated rewards as a result of the mistake in the execution of the previous proposal. The new 35,000 rewards (funded by Persistence Labs) will be allocated to the stkSTARS-STARS pool to ensure that the intended rewards are distributed as per the community's decision. However, note that the cycle of the stkSTARS-STARS pool is delayed to accommodate the passing of this proposal.

Impact on the reward schedules

The final breakdown of the impact on the PSTAKE incentives for Dexter pools for April 2024 is as follows:

SHD/XPRT

  • Amount: 35,000 PSTAKE (misallocated in the previous proposal)
  • Start Date: 07 Apr 2024, 15:15 UTC
  • End Date: 07 May 2024, 15:00 UTC

stkSTARS/STARS

  • Amount: 35,000 PSTAKE (funded by Persistence Labs through this proposal)
  • Start Date: 13 April 2024, 18:00 UTC
  • End Date: 10 May 2024, 18:00 UTC

Voting

YES: You agree to the proposed fix of rewards schedule for Dexter pools.

NO: You disagree with the proposed fix to Dexter pool rewards schedule.

NO WITH VETO: You think this is a SPAM proposal or harmful in any way, and the proposal's creator should lose their deposit.

ABSTAIN: You choose not to participate in this proposal's voting; however, you contribute to the quorum.