[RFC] Reduce SUMR emissions for referrals (SIP5.5)

General Discussion Request for Comment [RFCs]
, ,
1

1. Summary:

Proposal to reduce the SUMR emissions down from the current levels for the Referral campaign, as laid out in SIP5.5 and initially discussed in the RFC by 80%.

2. Context & Motivation:

Given that SUMR is now trading, and the lower than expected price currently, the amounts of SUMR being paid out are somewhat unsustainable over a long period. This reduction, while still incentivising referrals and being alongside the USDC payments helps maintain the treasury for longer.

Today, at the current rates and prices, over 350,000 SUMR will be issued a month, which feels very high. We were previously emitting around 50-60,000 a month.

3. Proposal:

Reduce the SUMR referral payouts as laid out in SIP5.5 by 80% for both Integrators and Users

– Up to $10,000: 0.1% → 0.02%
– Up to $100,000: 0.2% → 0.04%
– Up to $250,000: 0.3% → 0.06%
– Up to $500,000: 0.4% → 0.08%
– Over $500,000: 0.5% → 0.10%

4. Open Questions:

  • Any other proposed values? The numbers are quite small, but still a large amount of SUMR when the price recovers.

5. Next Steps:

  • Gather community feedback
  • Iterate based on discussion
  • Promote to SIP and vote via Snapshot (given no on-chain execution is required)

6. Informal Support Indicator

Do you agree with the reduction in SUMR amounts for Referrals
  • Yes, reduce the amounts by 80%
  • Yes, but reduce by less than 80%
  • Yes, but reduce by more than 80%
  • No, leave them how they are
0 voters
2 Likes
Lazy Summer Governance Recap [February 2026]
2

Thank you @chrisb for brining up this proposal. I am in support of decreasing beach club rewards by 80% due to SUMR trading price at the moment to make sure the referral setup is long-term sustainable.

3

Thanks @chrisb. I support reducing SUMR emissions — emitting 350k+/month at current prices is clearly unsustainable.

A few quick thoughts:

  1. It would help to see the USD-equivalent value of the new SUMR rates at current prices, to confirm the incentive is still meaningful enough to retain active integrators alongside the USDC payments.
  2. Worth adding a review trigger to the SIP (e.g., “reassess if SUMR price increases 3x”) so the community knows when to revisit upward.
  3. Longer term, a dynamic emission formula tied to SUMR’s market price could avoid repeated governance votes every time price moves.
2 Likes