[SIP3.4] Extend and Adjust Vault Rewards Emissions

Governance Summer Improvement Proposals
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Status: Proposed
Discussion: RFC – Extend and Adjust Vault Rewards Emissions

Summary

This SIP proposes the extension of Lazy Summer vault rewards for another 90-day period across all supported chains and key vaults. Based on the RFC feedback, this SIP adjusts the reward emissions rate and its duration.

*Due to differences in duration of some of the Fleets, I will propose additional SIPs to be following the suit [SIP3.4.1] where we will update the Sonic USDC.E Fleet rewards.

Motivation

  • Continuity: Avoid a prolonged rewards cliff, which could negatively impact vaults momentum.
  • Community Preference: Majority consensus in the RFC supported extending emissions for 90 days with adjustments.
  • Performance: These emissions are deemed effective in attracting capital and fostering protocol growth ahead of token transferability.

Community Feedback Summary

Given the general consensus for status quo emissions, this SIP reflects direction as proposed by @chrisb, with support expressed by: @samehueasyou, @FBrinkkemper, @MasterMojo.

Specification

Rewards will be distributed over a period of 90 days as follows:

Vault Description Network FleetCommander FleetCommanderRewardsManager SUMR Emission
USDC Base 0x98C49e13bf99D7CAd8069faa2A370933EC9EcF17 0xb1a851b8c70a4749408754d398702153a61dfc78 1,630,000
EURC Base 0x64Db8f51f1bf7064BB5A361a7265F602d348E0f0 0xdf8dFc3c051c88e62bB5D81819F312F15d5414a1 540,000
WETH Base 0x2bb9ad69FEBA5547b7cD57aAfe8457D40bF834af 0x7A49E6c6C64B32b7E89Bd9c0De121165977c422d 1,630,000
USD₮0 Arbitrum 0x98C49e13bf99D7CAd8069faa2A370933EC9EcF17 0xb1a851b8c70a4749408754d398702153a61dfc78 1,475,000
USDC Arbitrum 0x4F63cfEa7458221CB3a0EEE2F31F7424Ad34bb58 0x8dcA3e548C8b80C93EE8404cFC3cA46010C81679 1,592,500
USDC Mainnet 0x98c49e13bf99d7cad8069faa2a370933ec9ecf17 0xb1a851b8c70a4749408754d398702153a61dfc78 5,000,000
USDT Mainnet 0x17ee2d03e88b55e762c66c76ec99c3a28a54ad8d 0x8dca3e548c8b80c93ee8404cfc3ca46010c81679 3,082,500
ETH Mainnet 0x67e536797570b3d8919df052484273815a0ab506 0xc1768910a0e22a282f1d36725ab2eb29de5334f4 6,085,000
ETH HR (High Risk) Mainnet 0x2E6abcbCCeD9Af05bc3B8a4908e0c98c29A88e10 0xdf8dFc3c051c88e62bB5D81819F312F15d5414a1 5,000,000

Total Emissions (approx): 26M SUMR over 90 days

Average Daily Emission: ~289,000 SUMR/day

Next Steps

  1. Post on Tally
  • If approved, vault incentives will continue for another 90-day period starting from the current reward period’s end. The DAO shall reasses reward efficiency, TVL performance, and strategic emissions adjustments before the next period.
  1. Propose [SIP3.4.1]
  • For rewards to continue flowing to the Sonic USDC.E Fleet too.
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VOTE:

2 Likes
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I support the extension. It will be very interesting to see the combination of $SUMR transferability and ongoing rewards. Sensing a flywheel here.

Would definitely enjoy ongoing rewards on Sonic as well, just a fanboy. Plus yields over there are still low key goated.

2 Likes