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