This STP allocates SNX to kick start liquidity provision on Base Andromeda.
\nAllocate 225k SNX over 10 weeks to incentivize USDC deposits on Base Andromdeda.
\nBase Andromeda is ready scale up, and in order to reach its potential requires a significant increase in USDC liquidity.
\nThis STP allocates 225k SNX over 10 weeks to incentivize USDC deposits. A rewardsDistributor contract will be required to be deployed and registered, and will be defined by SCCP-313.
\nIncentivizing the Spartan Council pool is expected to attract more USDC, which in turn allows perp Open Interest caps to be increased, attracting traders and kickstarting the organic fee yield.
\n225k SNX will be allocated to this pool for a trial of 10 weeks. During the trial period this figure may be adjusted or extended by the treasury council. 25k SNX will be distributed to existing LPs who have taken the losses of early trading during alpha testing, and then 20k SNX per week for 10 weeks.
\n| Interval | \nReward | \n\n |
|---|---|---|
| Week 0 | \n25k SNX | \nOnce off retroactive for existing LPs | \n
| Weeks 1-10 | \n20k SNX/week | \n~20% APY on $ 26m of LP | \n
| Total | \n225k SNX | \n\n |
The TC will send 225k SNX to the deployed and registered rewardsDistributor contract on Base.
\nCopyright and related rights waived via CC0.
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