Summary
This proposal aims to offer ASTRO rewards for four pools on the Injective mainnet deployment of Astroport. These pools are ASTRO-USDT, INJ-USDT, ATOM-USDT and USDC-USDT.
The four pools were chosen according to the guidelines in ARC-41.
Abstract
Astroport is now deployed on Injective mainnet! In order to encourage liquidity provision and bootstrap the Injective Astroport satellite, we propose to offer ASTRO rewards to four pools:
- ASTRO-USDT
- INJ-USDT
- ATOM-USDT
- USDC-USDT
The pools were chosen according to ARC-41 which describes how the Astroport community can offer LP rewards on multiple chains. The initial amount of ASTRO rewards for each pool should last for 8 weeks (according to the Astroport Incentive Framework) from the moment of and assuming this proposal passes. After the initial 8 weeks of rewards, the community should re-evaluate the amount of fees produced by these pools and adjust ASTRO rewards in order to target the 0.1 fee to emissions ratio.
Methodology
In order to estimate the amount of fees generated by each pool, we made the following assumptions and observations:
- Injective block times are one second
- The average price of ASTRO is $0.09
- The Astroport pools will process the same volume (on average and excluding the ASTRO-USDT pool) as their counterparts on the Injective orderbook. This assumption was made because the orderbook is the best source of volume data on Injective and thus offers a good starting point to think about ASTRO emissions
- We target a 0.1 fee to emissions ratio as proposed in the Astroport Incentive Framework
With these points in mind, we arrive at the following rewards distribution:
The amount of ASTRO distributed per Injective block is approximatelly 0.845 ASTRO. If Injective were to have the same block times as Terra 2, this would translate to about 5.075 ASTRO per block.
Lastly, in order to have enough ASTRO rewards for the foreseeable future on Injective, we propose that the Assembly IBCs 13,154,923 ASTRO from the Treasury to the Injective satellite. At 0.845 ASTRO per block, Assembly would have about 6 months of rewards runaway on Injective.
Executable Message
There are three different executable messages that will help add ASTRO emissions on the Injective Astroport deployment, thus this ARC will be split in three parts:
- Claim ownership for the Assembly over the Astroport Injective deployment
[
{
"wasm": {
"execute": {
"contract_addr": "inj1rsrefjc7xnl6d6fm6avl706nu5y6nkpxffyevq",
"msg": "eyJjbGFpbV9vd25lcnNoaXAiOnt9fQ==",
"funds": []
}
}
}
]
- IBC 13,154,923 ASTRO from the Treasury (on Terra 2) to the Injective Astroport satellite. This amount of ASTRO will be stored in the Astroport Satellite contract
[
{
"wasm": {
"execute": {
"contract_addr": "terra12ncurr62xe93xrsh2drp4zvehj0gn32lfnshr8k0p4xfyju2knwq2qgmh2",
"msg": "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",
"funds": []
}
}
}
]
- The last part will set the total amount of ASTRO to distribute to 0.845 ASTRO, set the vesting schedule for all ASTRO to 6 months and set up
alloc_points for the four pools mentioned above
The readable version of this proposal looks as follows:
{
"msg1_registering_vesting_account": {
"register_vesting_accounts": {
"vesting_accounts": [
{
"address": "inj1z354nkau8f0dukgwctq9mladvdwu6zcj8k4928",
"schedules": [
{
"start_point": {
"time": 1679318579,
"amount": "0"
},
"end_point": {
"time": 1692472979,
"amount": "13154923000000"
}
}
]
}
]
}
},
"msg2_set_tokens_per_block_in_generator": {
"set_tokens_per_block": {
"amount": "845870"
}
},
"msg3_set_active_pools": {
"setup_pools": {
"pools": [
[
"inj1q5wmfzl6gfe629cc5yacluerphf8d5gqjd5055",
"28148"
],
[
"inj1hawmarr2vaswduu09xvkcqjqm79d5zp8zku95r",
"51434"
],
[
"inj1zejzp0ne0hh7c0wupuspkcqwajlw6kww3r86jl",
"20105"
],
[
"inj1j8jdreca56zey784s43jqqsgp224ulhqxygsmp",
"314"
]
]
}
},
}
The executable message for part three looks as follows:
[
{
"wasm": {
"execute": {
"contract_addr": "inj1lq7etsvahc3rn6jnj3chvpx4d8hxwp4c3xy2wt",
"msg": "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",
"funds": [
{
"denom": "ibc/EBD5A24C554198EBAF44979C5B4D2C2D312E6EBAB71962C92F735499C7575839",
"amount": "13154923000000"
}
]
}
}
},
{
"wasm": {
"execute": {
"contract_addr": "inj1z354nkau8f0dukgwctq9mladvdwu6zcj8k4928",
"msg": "ewogICAgInNldF90b2tlbnNfcGVyX2Jsb2NrIjogewogICAgICAiYW1vdW50IjogIjg0NTg3MCIKICAgIH0KICB9",
"funds": []
}
}
},
{
"wasm": {
"execute": {
"contract_addr": "inj1z354nkau8f0dukgwctq9mladvdwu6zcj8k4928",
"msg": "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",
"funds": []
}
}
}
]
Copyright
Copyright and related rights waived via CC0.