Restructure the CLEV booster program

CLever Improvement Proposals
1

Summary

According to an announcement made on Discord on August 25, 2023，the CLEV emissions have been reduced to 12.5% of their previous levels.
The detail proposal can be found in CLIP-03.

This proposal aims to adjust the boost program emission rate to align with the CLever (CLEV) emission reduction. Also apply the same voting mechanism we used for FXN boost program.

Implementation

  1. Emission Reduction:
  • Current rate: 3,333 CLEV per month (November 2022 - November 2024)
  • Proposed rate: 416.125 CLEV per month (87.5% emission cut) or 1248.375 CLEV per 3 months, until total 80,000 community allocation have been distributed.
  1. Vesting Schedule:
  • Linear vesting over 3-months period
  1. Voting mechanism(Same as FXN boost program):
  • Instead of a governance vote, the Aladdin DAO core contributors decide the rewards distribution, taking into account the impact each booster had.

Note:
To date, we have completed 13 Tranches, distributing a total of 43,329 CLEV tokens (3,333 per Tranche). We plan to implement a catch-up round using the newly proposed rate to cover the period from February 2024 to August 2024 (7 months). Following this, we will adhere to the regular distribution schedule.

2 Likes
2

I do like it.
I think it can Get more boosters engage with Clev aswell.

Not many Are active on Clev, and this might change it.
Yieldtern aproved this proposal.

1 Like
3

Fully support this proposal, Tao. I think matching booster round rewards with emissions is really impotant to ensure the sustainability of the protocol. Thanks for posting.