Initial Reward Pie composition

The Reward Pie - $SLICE

As mentioned in the original proposal for DOUGH Staking and Governance Mining, the Reward Pie is intended as a way to compensate the DAO active participants that opted to align their vested interest to the long-term development of PieDAO, committing to stake their DOUGH over time to get veDOUGH.

First Reward Pie

The first $SLICE of Reward Pie is proposed to be distributed as of early November 2021, rewarding all active DAO members that, by the 31st of October 2021, will stake their DOUGH and take part in PieDAO’s governance.

The first baking of Reward Pie would benefit from Protocol revenues, Farmed assets and Treasury proceeds cumulated over several months of operations, resulting in a generous reward for all early DAO participants that will actively embrace the PieDAO Governance Mining at its fullest, setting this launch to become a Glorious event!

Initial Composition

The proposed composition of this first Reward Pie would be a mix of the following

  1. Protocol Revenues
    a) entire DAO Fee Pot, inclusive of Pie Streaming fees & Exit Fees on incentivised pools charged overtime;
    b) 16,082 $BAL farmed by LP positions held by PieDAO, no longer incentivised by Balancer (former PIP-19)

  2. Treasury Proceeds, resulting from both the Active Management of treasury assets & Farming strategies deployed by the Treasury Committee (TC) over the first 2.5 months of their operations.
    In order to stress the strategic importance of the DOUGH Staking launch, the TC exceptionally proposed to dedicate the entire alpha generated by End October to this first Reward Pie distribution! As of today the alpha vs Benchmark exceeds the 4.5%.

At current rates (Oct 8th, 2021), the first Reward Pie would be valued approx $ 1.35m.

NOTE: this $ value exceeds the cumulative $ value of all DOUGH currently staked, setting an unprecedented NET MONTHLY return > 100% for this first distribution alone.

The following monthly distributions will then be formed by Protocol Revenue (fee pot) & 60% of Monthly Treasury Farming Proceeds, as per initial proposal and forecast provided by the Staking Simulator.
We’d like to sense the consensus around this proposal, before moving it to snapshot vote as soon as the new veDOUGH governance will be implemented.

8 Likes

Was there any other plan for the DAO fee pot? I’m asking because rather than distribute it, the DAO might want to hold on to it so as to slowly and easily increase the % of liquidity controlled by the dao. Having guaranteed liquidity, event its its small right now, seems like a reasonable growth goal. Especially sense we can’t run doughpamine forever.

What is the reasoning for such a large distribution for the first month? While I am personally happy to receive a large payout like this, is it really in the best interest of the DAO?

…so #StayCrusty :handshake:

1 Like

Maybe this could be distributed over 6 months to help meet the KPI. Though I’m also inclined to not be diluted.

2 Likes

i like the early bird payout, thou as always i am 0.x % voter :frowning:

1 Like

I believe this should answer your question:

Treasury Proceeds , resulting from both the Active Management of treasury assets & Farming strategies deployed by the Treasury Committee (TC) over the first 2.5 months of their operations.

1 Like

Maybe, in order not to dilute the free pot to few and in the same time not change the plan completely, what do you think about establishing some conditions such as:

  • IF by the end of the month >5M veDOUGH AND >200 wallets THEN 100% Free pot distributed
  • ELSE 60% Free pot distributed
3 Likes

Snook suggested on the forum some kind of address capping (e.g. max 10ETH) but Alessio pointed out that this would only create the condition for people to use multiple addresses

1 Like

I do support this as is. The 1.35M would have been distributed already if the staking would have been available earlier, so it makes sense to distribute it all if there’s no other intended strategical use. It’s a fair benefit for long term supporters

1 Like

Yes and the staking stats are looking good so far!