These initiatives can be voted on in the current Epoch which ends next Wednesday at 23:59:59 UTC. The initiatives will receive protocol incentives at the start of the following Epoch.
Curve: Is optimized for stablecoin liquidity and enables V2 to incentivize pools in a trustless and automated manner.
DeFi Collective: proposed an initiative and has a good track record of supporting LUSD liquidity.
How to vote?
After staking LQTY on one of the frontends, you will be able to distribute your votes. Read more here.
What is a suitable vote distribution?
While every voter is free to allocate his voting power however desired, a split which would suit the protocol well in the beginning is:
Curve BOLD/USDC - 75% => Core mainnet liquidity for BOLD
Curve BOLD/LUSD - 10% => Support LUSD to BOLD conversions
Defi Collective - 15% => Expand BOLD to L2s
Once you have voted, your votes will count in all future epochs - you don’t need to vote every epoch. You only need to vote again if you want to adjust your voting weights, or if your LQTY stake changed (add/remove LQTY).
Voting Epochs & Periods
Voting operates in weekly epochs. Each epoch starts with the first Ethereum block after Thursday 00:00 UTC and ends with the last block on Wednesday 23:59:59 UTC.
Voting Period: Thursday 00:00 UTC – Tuesday 23:59:59 UTC
Downvote Period: Thursday 00:00 UTC – Wednesday 23:59:59 UTC
During the final 24 hours (Wednesday), voting is disabled. However, users can still remove votes or reallocate them to downvotes.
Are those initiatives hard-coded?
No. In any weekly epoch new initiatives can be registered.
Hello @Bojan
Thanks for the details.
Can you share further details about the rationale for this distribution sharing ?
These proportions look adequate in my view for this initial phase after the relaunch, but looking ahead do you see a possible increase for Defi Collective (maybe to around 20%) in order to enhance BOLD expansion to L2s.
I personally see as something very desirable to have BOLD well expanded to L2s as a way to capture retail market (mainly due to much lower gas) and as a way to bring more users to mint their BOLD in Ethereum mainnet.
Obvious it takes time for BOLD to start be listed and accepted on the various DeFi platforms on L2s, but as that happens an increase on that share is something interesting to consider and a key point for it to be listed is the liquidity available on that L2s.
Just willing to understand this rationale ahead and if this all makes sense.
As you have said, this is an adequate allocation for the initial phase, and that is still where we are. These numbers are our best estimates and should be understood as a guideline, but people are free to vote as they see best fit.
At the moment, the Collective is at 20.54%, showing increasing popularity.
We expect two more proposals soon, both offering bribes.
Afterwards, we will see listings on Euler, Spectra, Morpho, Fluid and more. Each of these may bring new initiatives. Activity on L2s will also increase once forks set up pools and announce rewards.
In short, the dynamics will become more complex over time, and as BOLD supply grows, the amount of PIL will become more attractive. We rely on LQTY voters and the broader community to create proposals and participate in discussions. This is a key factor for the success of Liquity V2, and I thank you for your interest.