Prop 153: Incentive Diversification

This is a signaling proposal to diversify the Incentive Program by swapping 3M STRD for 1.5M USDC. The USDC will be fully used for the incentive program, to encourage liquidity and adoption of Stride’s stTokens.

More context for this discussion can be found on Commonwealth here: https://commonwealth.im/stride/discussion/9991-incentive-diversification

3M STRD should be sent from the incentive program (stride1tlxk4as9sgpqkh42cfaxqja0mdj6qculqshy0gg3glazmrnx3y8s8gsvqk) to the Stride Foundation (stride1yz3mp7c2m739nftfrv5r3h6j64aqp95f3degpf) during the next software upgrade. Immediately after, Multicoin and North Island Ventures will send 750,000 USDC to the Stride Foundation each, for a total of 1,500,000 USDC. The Foundation will then deposit 1.5M STRD each into 2 Vesting Accounts, where tokens start vesting after 12 months, and vest linearly until 36 months. The USDC will be deployed as incentives from the Stride Foundation. No funds will be used for any other purpose.

Vote YES on this proposal to signal support for the incentive swap.

Vote NO on this proposal if you do NOT want to support the incentive swap.