Proposal Details

Proposal #753

Passed

Proposal title

Remove Incentives from stIBCX pairings

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

96.07%

Proposal #753 description

This proposal would directly remove OSMO incentives from stIBCX pairings. /n/n## Background /nOsmosis governance removed incentives from most pools in Proposal 638. stIBCX maintained incentives due to its recent launch, and due to being composed of other assets that maintained incentives. /n/nstIBCX is the only non-Quote asset currently incentivized by Osmosis in a non-derivative pairing. /n/nAs can be seen in the Incentives Adjustment for March 2024, the Liquidity Provider Fee Subsidy Rate is currently 500%, meaning that these pools are incentivized by 1 OSMO for every 0.2 OSMO of fees paid to LPs. /n/nThese high subsidy rates are intended to be a short-term bootstrapping mechanism and stIBCX has not reached self-sustaining liquidity or volume in six months. Similarly, this lack of volume means that Osmosis is still well below the breakeven point for emissions, spending 15x what is generated from Taker Fees. /n/nAs stIBCX liquidity has stagnated over the past six months, this proposal asks that the Osmosis incentive spend on this grouping be ended as an inefficient spend with no resulting liquidity increase. /n/nForum Thread:https://forum.osmosis.zone/t/remove-incentives-from-stibcx-pairings/2564

Proposal #753 overview

Total votes
18,240
Voters
18,191
Total deposit
1,600 OSMO