Proposal to extend the on-going rewards for an additional 3 months and a proposed end date for INST token claims (from initial token launch)
The Instadapp Rewards program is approaching its conclusion in the next few weeks. We have seen great success with the launch of the INST token, the liquidity mining rewards in particular have brought lots of volume and interest in the Instadapp platform. The G-UNI pools have good volume and growth and INST is doing around 1-2m USD in daily volume, with a majority of that volume from the G-UNI pool.
The team proposes that we extend the current INST mining rewards program until January 15th, 2022. This is slightly longer than the current three month program, due to it being the end of the year we can give the community some additional time to reconvene towards the end of this proposed liquidity mining program.
Liquidity Mining - allocate 4m
INST/ETH G-UNI Staking - allocate 1m
This would in total allocate 5m from the Treasury to continue the liquidity mining program. We propose at the end of this liquidity mining period the Instadapp Treasury will re-claim any unclaimed INST tokens from the initial distribution that occurred with the token launch.
Currently the Instadapp Treasury holds a majority of the INST tokens. The platform is seeing great success with both the Liquidity Mining Rewards and the INST token launch. Instadapp’s TVL has grown to over 9.5 Billion USD since the launch of the mining program, making one of the largest DApps by TVL. There have also been several discussions around revenue models, market liquidity and growth that also lean towards increasing the distribution of the INST token.
The more tokens available, if done correctly, the more decentralized and more distributed we become. This helps make the protocol more resilient and increases the number of stakeholders to the protocol and helps increase market liquidity.
Allocates 5m INST tokens from the DAO Treasury to extend the Liquidity Mining Program until January 15th, 2021. At the end of this liquidity mining program any unclaimed tokens from the initial token launch will be reclaimed by the DAO Treasury.