[AIP-49] Enable Additional Rewards for the R/sDAI Pool

Proposals
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Background

Raft enables the generation of R, a leading decentralized USD stablecoin, by opening a CDP (collateralized debt position), or by depositing stablecoins into the Raft protocol reserve.

R is the most capital-efficient USD stablecoin backed by high-quality collateral assets such as stETH (Lido Staked Ether) and rETH (Rocket Pool ETH) and reserve assets such as CHAI, the yield-bearing version of the DAI stablecoin. R aims to be the stablecoin of choice within the decentralized ecosystem, with deep liquidity across many trading pairs, a high yield, and a stable peg.

Proposal Overview

This proposal aims to secure the option to introduce additional rewards into the R/sDAI pool on Aura. The acquisition of veBAL votes in the market sometimes follows a predictable pattern, and there can be instances where the actual results fall short of initial expectations. To address this, we seek the capability to directly add rewards to the pool as a safeguard for situations of underperformance. This will enable the RAFT DAO to effectively boost rewards, ensuring that LPs’ Annual Percentage Rate (APR) remains stable. Maintaining a robust Total Value Locked (TVL) in the pool is crucial for Raft’s Growth and the adoption of R.

R/sDAI Pool: Balancer

Specification

The Aura DAO multisig will execute the ‘setExtraReward’ function for the R/sDAI pool. This action will create a new ‘VirtualRewardPool,’ allowing the RAFT token to be sent to this stash and queued within the new virtual reward pool. RAFT reward token sent to this stash will be queued over the following week.

Reward token details

RAFT address: 0x4C5Cb5D87709387f8821709f7a6664f00DcF0C93

Voting Procedure

Please note that we intend for this proposal to undergo a vote in the snapshot round on Thursday, October 12th.

Given this timeline, the discussion period for this proposal is shorter than usual. We aim to finalize the addition of rewards to the R/sDAI pool by Monday, October 16th. Therefore, we kindly request that the discussion period and the Snapshot voting occur before this date. Your prompt participation is highly valued.

The voting will employ a single-choice format. You can vote “For” or “Against” this proposal, or you may opt to abstain. Voting “For” this proposal signifies your support for granting flexibility in adding extra RAFT rewards to the R/sDAI pool.

4 Likes
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Congratulations on the launch! We warmly welcome Raft to the Aura ecosystem.

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Welcome ser!

Raft is a protocol that is gaining traction and flexibility is mandatory on DeFi. It is a good initiative to enable the additional rewards to be used when/if it is necessary.

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Gm guys, nice strategy, seems very well thought to introduce additional rewards streaming directly to the pool.

this statement is accurate and I would like to let you know, if you’re not aware already, that Paladin Quest, a well established vote marketplace, recently introduced a feature that might be very convenient according to your proposal;

The feature is called “vote incentive Roll-Over” and can take different forms (I invite you to acknowledge all forms in this thread
And to go straight to the point, one of the roll over options allow to convert vote incentives budget to direct liquidity mining automatically when efficiency fall below a certain target that you’ve defined when creating the vote incentive.

Let me know if you want to get more details about this new and unique design !

4 Likes
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A pool of two stablecoins, one backed by yield bearing asset, another backed by RWA, is more than interesting. Yes, Aura should definitely vote in favour of further additional rewards as presented here.

1 Like
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https://vote.aura.finance/#/proposal/0x3690ec034ea2ee6296953ac20a0404838816191e657ae2c3ac1512aa4276296f

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GM

RAFT holder and staker here. Fully support Raft’s proposal - looking forward to seeing Raft grow and Aura enabling the journey :+1:

1 Like