| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-100 | Give LPs voting power | Draft | Svenska (@svenskafr), Milkywave, Jayref | Give voting powers to liquidity providers for thales governance elections | https://discord.gg/rPpPcMXSeU | 2022-10-24 |
This TIP proposes to extend TIP-10 to give voting power to $thales liquidity providers in time Epoch 4 elections and future governance elections.
Eligible users are the ones providing $thales liquidity and staking their LP tokens through Thales dApp.
The first 3 epochs allowed only $thales stakers to obtain voting power, the idea is to provide the same voting power to $thales liquidity providers. The unit chosen remains the same as for staking, i.e. 1 $thales equals one unit of vote.
When Thales protocol governance launched, liquidity provision was not established yet so only stakers were given voting power. Now that liquidity provision is here and the chosen pool remains stable since launch (G-UNI through Arrakis), we can extend voting powers to liquidity providers.
Since liquidity providers are an essential component of the availability and attractiveness of the $thales token, and given the risk taken (IL), hence the higher APY than stakers, they are natural candidates for voting rights.
In the 3rd epoch elections, a large amount of capital withdrew from liquidity pools to vote. By giving LPs voting power, more $thales holders are able to participate in governance without compromising $thales liquidity.
This proposal entails the liquidity providers with voting powers for Thales governance votes.
Alice has provided 1000 $thales and value equivalent amount of $weth on the liquidity pool chosen by Thales for LP incentives, staked her G-UNI LP tokens on Thales dApp. When a new governance election is put to vote, just as staked $thales are counted at specific ETH block, $thales tokens in LP staked tokens are counted.
If Alice has 955 $thales in her staked LP position at snapshot time, she has 955 vote units for the given election.
n/a
n/a
Copyright and related rights waived via CC0.