Overview
This RFC proposes a short-term extension of $SUMR governance staking rewards (set to expire Monday, April 28th at 18:20 UTC). The goal is to maintain incentive alignment while we explore sustainable models ahead of SUMR transferability (enabled July 1st).
Context
- Current SUMR staking rewards distribute 15,982 SUMR/day to stakers.
- These emissions are set to expire on April 28th (in 9 days) unless extended via governance.
- With transferability approaching on July 1st (in 73 days), it’s important to ensure a smooth transition while maintaining alignment and value for participants.
- Governance action (SIP) should go up by April 23rd, 18:00 UTC at the latest to avoid reward lapse.
Explore Data: SUMR Claims Dashboard (Dune)
Proposal Options for Extension
I propose extending SUMR governance staking rewards for one of the following durations, to allow time for deeper discussion and implementation of a longer-term model:
- 30-day extension — until May 28
- 60-day extension — until June 28 (just before transferability)
- 90-day extension — until late July (gives buffer post-transferability)
Emission Rate Options
Community input is also needed on the emission rate:
- Maintain current rate: 15,982 SUMR/day
Pros: Consistency, no disruption in yield
Cons: Higher inflation, less sustainable long-term
- Taper to: 11,986 SUMR/day (75%) or 7,991 SUMR/day (50%)
Pros: Softens inflation, preserves long-term value
Cons: Slightly lower yields in the short term
This RFC aims to gauge sentiment on both duration and emission rate, with the SIP to follow based on this feedback.
We’ll consolidate feedback into a formal Summer Improvement Proposal (SIP) to post by April 23rd, ensuring no gap in rewards.
– jensei