Proposal Summary
This proposal aims to reduce the floor price introduced by the Incentivized Mainnet Program (IMP) from the originally defined 10 USD per SSV to 8 USD per SSV.
Motivation
Since the passing of the Incentivized Mainnet Program and [DIP-39] Incentivized Mainnet Program - Revision #4 (DIP-39), the ssv.network DAO (DAO) had two important tools to control token emission:
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The so-called “floor price” introduced with the original IMP at 10 USD per SSV.
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The “Inflation cap” introduced by DIP-39 at 15% of the total supply each year.
While both tools were designed to limit IMP rewards, their combined effect has become counterproductive. When the actual market price falls significantly below the 10 USD “floor price,” the two mechanisms overlap, stifling growth without successfully reaching the intended inflation cap. Using both simultaneously is redundant; while a floor price can effectively manage inflation in isolation, the inflation cap is a more suitable standalone tool for the IMP’s specific requirements.
With this in mind, the proposal suggests relaxing the 10 USD per SSV price floor to 8 USD per SSV. In so doing, the incentives can remain lucrative while protecting the DAO’s treasury.
Mechanics
If this proposal were to pass, the Incentivized Mainnet Program proposal will be amended and effective for July’s rewards distribution from the original wording of:
If the price of SSV were to fall under 10 USD per SSV at the time of calculation, the calculated price will be set to 10 USD per SSV.
To the new wording of:
If the price of SSV were to fall under 8 USD per SSV at the time of calculation, the calculated price will be set to 8 USD per SSV.