quasar

Prop 39: [Community Spend Proposal] Payout of Sixth Grant Program Installment for Define Logic Labs (DLL)

[Community Spend Proposal] Payout of Sixth Grant Program Installment for Define Logic Labs (DLL)

Proposal Overview

This proposal addresses the sixth grant installment for Define Logic Labs (DLL), in accordance with the previously passed on-chain governance proposal 7. This grant is part of the Quasar Interchain Grant Program.

The above mentioned proposal, approved on August 12, 2023, included a three-month cliff period that concluded on November 11, 2023. The vesting of the grant commenced the following day, November 12, 2023.

The vesting of the 5 million QSR token grant to DLL is contingent upon their success in increasing the Total Value Locked (TVL) via Quasar’s platform. For a comprehensive overview of these conditions, please refer to the detailed breakdown in the forum post associated with proposal 7, available at the Quasar Forum.

Details

Previous grant installment payouts concluded in the following proposals:

Based on queried on-chain data the total TVL in Quasar Concentrated Liquidity vault with DLL strategies was on 13th May a total of $5,332,812.23. (totaltvl: “5332812.227644”)

This qualifies DLL for Tier 6 as per the stipulations of proposal 7. This achievement permits the payout of 505,263 QSR tokens. These tokens will be transferred to the wallet address endorsed in proposal 7 (quasar19fylsq22q6uv9nrkv7yat3jrypr0azwvgnavjg). Upon approval of this proposal, the total QSR tokens disbursed to DLL will amount to 3,517,714. DLL will remain eligible to receive an additional 1,482,286 QSR tokens, subject to the vesting tier table conditions.

A detailed breakdown of vault and TVL information can be found in the following GitHub repository: https://github.com/quasar-finance/vault-tvl-grant-calculator

Information about this installment payout can be found in this file: https://github.com/quasar-finance/vault-tvl-grant-calculator/blob/main/grants/05-13-2024.yaml

Voting-

  • By voting YES, you agree to the changes above proposal suggests.
  • By voting NO, you disagree to the changes above proposal suggests.
  • By voting ABSTAIN, you express no opinion on the matter.
  • A NoWithVeto vote indicates a proposal either (1) is deemed to be spam, i.e., irrelevant to Quasar, (2) disproportionately infringes on minority interests, or (3) violates or encourages violation of the rules of engagement as currently set out by Quasar governance.