[DIP-27] Incentivized Mainnet Program - Revision #2

Proposals DIP (DAO Improvement)
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Summary

This proposal aims to continue the accelerated pace of adoption of DVT and the use of ssv.network by the Ethereum ecosystem at large by prolonging the existing Incentivized Mainnet Program (hereinafter: “IMP”) until December 31st 2025.

Motivation

The extension is driven by the need to accommodate the sustained incentivization of users to adopt the ssv.network.

Previous proposals

The Incentivized Mainnet Program (hereinafter referred to as: “IMP”) has been passed by the ssv.network DAO on November 6th, 2023 with the proposal Incentivized Mainnet Program.

Certain provisions of this proposal were amended on the 18th of June 2024 with [DIP-18] Incentivized Mainnet Program - Revision (hereinafter referred to as: “DIP-18”). These amendments include:

  1. duration of the IMP has been extended;
  2. the reward tiers were expanded to include a higher total number of validators and the respective APR boost for the new validators
  3. the inclusion of SAFE multisig wallets into eligible participants of the IMP.
  4. the distribution time of the rewards of the IMP to the 15th of the following month for the previous month at the latest.

Certain provisions of the IMP proposal were added on the 15th of September, 2024 with [DIP-22]: Incentivized Mainnet Exception for Lido SimpleDVT Participants (hereinafter referred to as: “DIP-22”). These additions include:

  1. a new distribution contract to help with the distribution of the IMP rewards to SimpleDVT participants.
  2. a set of calculations to correctly track user participation and eligibility.
  3. a set of calculations for the payment of IMP rewards to SimpleDVT participants.
  4. a dedicated page for the claiming IMP rewards.
  5. Tying the effectiveness of the SimpleDVT program to the duration of either the end of the IMP or the Lido SimpleDVT program.

Proposed Revision

This proposal proposes to extend the duration of the IMP by 12 monthly rounds, until December 31st, 2025.

Each round shall commence with the first epoch on the 1st day of a calendar month and end with the last epoch on the last day of that month, measured in the UTC+00 timezone.

This proposal also proposes that the budget previously allocated for the IMP (1 million SSV) be reset, meaning that with the passing of this proposal, the ssv.network DAO will have another 1 million SSV total dedicated to the IMP. The constraints mentioned on how this 1 million SSV will be distributed and utilized remain the same as was indicated in the previous proposals.

The full 1 million SSV is requested to be approved for two reasons:

  1. A strong commitment by the ssv.network DAO to the growth of the network and the adoption of its protocol as a signal to prospective and existing users
  2. As the anticipation of exciting new developments in Q1 and Q2 of 2025 that will utilize this budget for even more aggressive growth and adoption of the ssv.network protocol

All other terms and conditions set out in the IMP, DIP-18, and DIP-22 that have not been expressly amended pursuant to this proposal shall remain in full force and effect.

5 Likes
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Hello! Great to see the extension of Incentivized Mainnet Program, as it boosts DVT adoption at scale in an efficient manner and benefit ETH stakers in the first place.

Please advise whether the current tier (Tier 3) stays the same as during the prev revision (45001 - 100000) and its APR boost will be at 10%?

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Hi Irina!

Considering that the tiers are not mentioned explicitly as is the case with many other provisions that are part of the “IMP corpus of proposals”, the existing tiers remain in effect as you have noted.

This is prescribed by the DAO’s phrasing found at the end of the proposal:

All other terms and conditions set out in the IMP, DIP-18, and DIP-22 that have not been expressly amended pursuant to this proposal shall remain in full force and effect.

2 Likes
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Update: The table listing the exact epochs and their corresponding times has been removed because calculating the precise epoch number and time involves rough estimations that may cause confusion rather than clarity.

For extra clarity, the following has been made explicit:

Each round shall commence with the first epoch on the 1st day of a calendar month and end with the last epoch on the last day of that month, measured in the UTC+00 timezone.

1 Like
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:vertical_traffic_light:Voting is now live.
https://snapshot.box/#/s:mainnet.ssvnetwork.eth/proposal/0x592978db42ae5333a87abc88615f9e2b0b2be74ef42e7d531d64a141e5f9bb42

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Voted YES on [DIP-27] to back the IMP extension and boost DVT adoption on ssv.network! :saluting_face:

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I voted yes, the incentive for adopting DVT is very important, and I even think ETH should fund this project