[SIP5.5.9] March Payouts for Referral Campaign

Governance Summer Improvement Proposals [SIPs]
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1. Overview:

This sub-SIP details the payouts to be made for previously approved referral campaign, detailed here: [SIP5.5] Enable onchain referrals and update AdmiralQuarters contracts on all chains to support Referral Codes.

The payouts are made on Base and include;

  • 59,531.763016 $SUMR
  • 1,785.783027 $USDC
  • Total recipients: 672

2. Motivation:

The Lazy Summer Protocol’s referral program (as introduced in [SIP5.5]) requires monthly settlement of rewards earned by referrers and referees.

March referral period has concluded, and users have accumulated SUMR and USDC allocations based on activity tracked in the Lazy Beach Club Dune Dashboard.

This SIP is necessary to transfer the required tokens to MERKL and enable users to claim their rewards transparently and trustlessly.

2.1 Historical monthly metrics for context

2025/26 July August September October November December January February March
Total SUMR 19,053.7651 SUMR 22,272.589 SUMR 40,582.388 SUMR 53,989.690 SUMR 52,967.722 SUMR 55,232.370 SUMR 58,981.345 SUMR 53,302.252 SUMR 59,531.763 SUMR
Total USDC 687.48 USDC 789.35 USDC 1,337.99 USDC 1,728.54 USDC 1,691.77 USDC 1,747.70 USDC 1,857.97 USDC 1,594.91 USDC 1,785.78 USDC
Total Recipients 227 334 419 547 569 579 666 679 672

3. Specification:

This SIP does not modify smart-contract logic. It authorizes:

  • Creation of a new MERKL campaign for March referral rewards.
  • Transfer of:
    • 59,531.763 SUMR
    • 1,785.78 USDC
      to the MERKL clams contract on Base.

The payout distribution is predefined in the following .json , for both USDC and SUMR rewards:

3.1 Execution plan

  1. Upon successful governance approval, and execution, the multisig triggers MERKL campaign creation.
  2. SUMR and USDC amounts are transferred from the DAO treasury to the MERKL claims contract.
  3. MERKL makes claims available for all eligible March participants.

3.2 Actors responsible

Lazy Summer DAO - executes the MERKL campaign setup and performs token transfers, while MERKL handles distribution and claim logic.

4. Risk Assessment:

Technical Risk:

  • Low. MERKL infrastructure has been user for prior referral payouts without issue.
  • Mitigation: Standard verification of token amounts and campaign parameters before vote.

Economic Risk:

  • Minimal. Payouts were already committed under [SIP5.5] and reflect earned rewards.

Governance / Operational Risk:

  • Requires accurate execution by the DAO.
  • Mitigation: Public spreadsheet, onchain transparency, and reproducible calculations.

5. Voting:

If YES - Approve SUMR and USDC disbursement to eligible March participants.

If NO - Do not disburse for March; continue with further discussion.

Tagging @Recognized_Delegates for a check up as always.

–jensei