ARC-128: Deploy vxASTRO

Proposals ARC (Astroport Request for Comments)
1

Summary

This proposal seeks approval for the deployment of vxASTRO 2.0, introducing a new tokenomics model for Astroport that revitalizes the “AstroWars”. The key objectives are to deploy vxASTRO contracts on Neutron, Terra, Osmosis, Injective and Sei utilizing the Builder Multisig to enable ASTRO stakers to lock their tokens for voting power over emissions.

Abstract

Building upon previous governance approvals and community feedback, this proposal outlines the next phase in Astroport’s evolution: the deployment of vxASTRO 2.0. The new model addresses concerns over token lockup durations and centralization of voting power. It introduces a flexible locking mechanism and aims to decentralize emissions decisions. This proposal details the steps necessary for deploying vxASTRO 2.0, emphasizing its benefits for the Astroport ecosystem across Neutron, Terra, Osmosis, Injective and Sei.

A more complete description of vxASTRO can be found in the announcement blog post

Proposal Details

  1. Deploy vxASTRO contracts

    1. The contractswill be deployed on Neutron, Terra, Osmosis, Injective and Sei

  2. Set parameters

    1. Set the SMA value from current ASTRO fees collected based on 14-28 October
    2. Set the emissions multiple to 0.8
    3. Set the maximum amount of ASTRO for distribution per epoch to 1.4M ASTRO
    4. Set the start date of vxASTRO epochs to 28 October, 00:00 UTC
    5. Set max pools to receive emissions to 25
    6. Set whitelisting fee of pools to vote for to 1500 $ASTRO
    7. Set whitelist threshold to 0.1% of votes
    8. Provide $ASTRO to emissions controller for the next year. 36.5M $ASTRO based on 26 epochs at 1.4M $ASTRO max
    9. Set standard emissions to specific $ASTRO pools to maintain liquidity for standard buyback mechanism

These values have been calculated by applying the model to historic data

Historic performance
Historic performance739×453 26 KB

  1. Enable vxASTRO
    1. Migrate Incentives contract on all Outposts to enable vxASTRO emissions mechanism
    2. Store contracts, instantiate them and create wasm<>wasm IBC channels between Outposts and Hub
    3. Add vxASTRO Outposts on the Hub
    4. Set vxASTRO address in Assembly which also sets the Emissions controller address

Executable Message

This is a signalling proposal that does not require executable messages

Conclusion

The implementation of vxASTRO 2.0 marks a significant advancement for Astroport, addressing community concerns while introducing innovative mechanisms to enhance participation and decentralization. By empowering vxASTRO holders, Astroport aims to reignite the AstroWars in a manner that benefits the entire ecosystem. This proposal seeks the community’s support to proceed with the deployment and usher in this new era for Astroport.

Copyright

Copyright and related rights waived via CC0.

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This proposal has my vote. Bring on the ASTRO wars

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