In a signaling proposal several weeks back, the Astroport community displayed overwhelming consensus around the SLAMM idea. The builders of the Astroport community are currently building out SLAMM.
SLAMM will be fantastic when it launches, but there are definitely many uncertainties around when and how it will launch, and ultimately it’s uncertain that SLAMM even will launch.
With that in mind, the community can’t be complacent and expect SLAMM to fix everything. There are several other things that can be done to improve Astroport.
Here are three ideas we as the Astroport community should consider:
Delay the Astroport builder unlock by six months. The unlock is currently scheduled for December 14th. Delay it until June 14th, 2023.
Reduce ASTRO emissions from the generator by 75%. For context, in this bear market Osmosis has repeatedly cut its OSMO emissions. See here for their latest cut.
The ASTRO generator currently emits ASTRO at an annualized rate of 100,000,000 per year. That’s 273,972 ASTRO per day, or $10,958 worth per day.
We should cut these numbers by 75%. When the market picks up again or when SLAMM goes online, governance can increase emissions.
- You may be wondering: “if we drastically decrease LP incentives, how will Astroport maintain liquidity?” Answer: we reimagine Astroport as a protocol-owned-liquidity DEX. Here’s how:
Consider these pools: ASTRO-LUNA, TPT-LUNA, RED-LUNA, LunaX-LUNA, ampLUNA-LUNA, and potentially VKR-LUNA. All these pools are made solely with assets endogenous to the Terra ecosystem. It shouldn’t be too hard to broker agreements between these protocols, the Terra community pool, and Astroport.
So for example, the TPT-LUNA pool would be protocol-owned-liquidity with TPT from the Terra Poker community pool and LUNA from the Terra community pool. The assets would be stewarded by Astroport. And we’d do the same for all the other pools mentioned above.
With this pool set up, the only pool that would need heavy incentives would be the LUNA-USDC pool, because there’s no community pool to supply USDC.
I believe these proposals will benefit Astroport and Terra.
Next Friday, I will begin putting these proposals up one by one, starting with the proposal to delay the builder unlock.
In the meantime, let’s discuss!