Proposal
Summary
This proposal aims to revise the existing Incentivized Mainnet Program (hereinafter: “IMP”) by extending the program duration, restructuring the program tiers and APR boost, and updating the eligibility criteria to exclude SAFE multisig wallets.
The original IMP proposal and terms will remain valid for aspects not amended by this proposal.
The proposed revisions will take effect starting from the round in which this proposal is approved.
Motivation
The revisions are driven by the need to accommodate the sustained incentivization of users to adopt the ssv.network, and address the limitations faced during the initial phase when the network was permissioned. Additionally, the eligibility update will correct the inadvertent exclusion of multisig wallets, benefiting users who participate through multi-sig registrations.
Mechanics
- Program Extension - the program duration will be extended from September to December 2024, adding three months to the original proposal for a total of 15 months.
- Revised rounds duration:
| Round | Epochs | Timestamps |
|---|---|---|
| 1 | 287438 - 294187 | Jun-01-2024 12:03:35 AM - Jun-30-2024 11:57:11 PM |
| 2 | 294188 - 301162 | Jul-01-2024 12:03:35 AM - Jul-31-2024 11:57:11 PM |
| 3 | 301163 - 308137 | Aug-01-2024 12:03:35 AM - Aug-31-2024 11:57:11 PM |
| 4 | 308138 - 314887 | Sep-01-2024 12:03:35 AM - Sep-30-2024 11:57:11 PM |
| 5 | 314888 - 321862 | Oct-01-2024 12:03:35 AM - Oct-30-2024 11:57:11 PM |
| 6 | 321863 - 328612 | Nov-01-2024 12:03:35 AM - Nov-30-2024 11:57:11 PM |
| 7 | 328613 - 328837 | Dev-01-2024 12:03:35 AM - Dec-30-2024 11:57:11 PM |
- Tiers Refactoring - the program tiers and corresponding APR boosts will be restructured according to a new tiered rewards system:
| Tier (Validators) | APR Boost |
|---|---|
| 20000 - 35000 | 30% |
| 35001 - 45000 | 20% |
| 45001 - 100000 | 10% |
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Eligibility Updates - To correct the unintentional exclusion of multisig wallets from receiving rewards due to the previous clause stating,“If the registering address is a contract, the address of its deployer will be set as its reward address.”, SAFE multisig wallets will now be excluded from this clause. This change ensures that rewards are attributed directly to the SAFE wallet rather than their deployer, thereby benefiting users who participate through multi-sig registrations.
- Identification of SAFE wallets will be conducted using the official Gnosis SAFE API, specifically the “/v1/safes/{address}/” endpoint.
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Reward Distribution - The rewards incurred in a given month will be available to be claimed by the community by the 15th of the following month.
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Effectiveness - The refactored tiers take effect immediately once the proposal is approved for the full month in which it has been approved and related epochs in which the proposal passes and stays effective for the remainder of the program.
Voting is now underway!