Due to some delays on my side, Premia was not able to claim until recently. Thus we have accelerated the incentive timeline along with our first reporting update today 2024-07-31.
Background
STIP.b Proposal
Program Start Date: 2024-07-23
Objective: Increase daily options trading volume on the Arbitrum exclusive Premia Blue exchange by 100% focusing on retail and pro-tail users.
168k to Vaults (Natural Options Sellers) - Live - 7 Days
42k to Archetype (Protected/Insured swap) - Live - 1 Days
210k to Taker/Maker () - To Start 2024-08-06
Tracking: Dune Dashboard
Previous Two Weeks
ARB Received Last Disbursement: [210k ARB]
ARB Utilized as Incentives in the Last Two Weeks: [~24500 ARB ]
Contracts incentivized over the last 2 weeks:
| Dual Mining Contract (STIP) |
|---|
| arb1:0x5E2988d59b70485f693B885fe4ffA543a57f1A31 |
| arb1:0x9879eBeAfb38B81a9488062DAC6BD158AD52Fb43 |
| arb1:0x101Eb8b3b0fda101922648728838a3F279986B63 |
| arb1:0xa248C1A2121aE42D2E46b1ECD95A6dAB77209169 |
| arb1:0x992F4e2B145e74De7B3344f5e9C557937C6D502A |
| arb1:0xA632c12d1d59b6F80F8F9EFc13Cfd53E9a0cE43D |
| arb1:0x668aEaCcf944eAE06309Cc5DA91Fb8DD09a46839 |
| arb1:0xC2034eDcd7d5fe40cef9e3a8CC273CA52c27428f |
| arb1:0x881BadD6cBE5523839994926c982565146b771AF |
| arb1:0xB21b2400696a3e653531b2Ac9f90736f5c6f8403 |
This can also be tracked via our Tracking Spreadsheet
Contract address label Form 12 completed for all addresses: [TBD]
ARB left over: [185.5k ARB]
Plan for leftover ARB: NA
Phase 2 begins next week 2024-08-6
In the coming week we will have finished making the final updates to our STIP.B dune dashboard that will be updated regularly and will track rates, vaults, maker and takers, as well as dates.
Summary of incentives:
To ensure that emission rates remain constant during the STIP.B period (2024-07-23 to 2024-09-17), we deployed rewards to only primary vaults, ARB, WETH, & WBTC, Premia, ARB, and OP, both put and call vaults. This allows deposits to come in before launching the next phase of the STIP.B campaign. TVL within vaults has increased by 40%, but there is still room to grow. Phase 2 of the STIP.B campaign begins next week 2024-8-06, where trading and market making components will be folded in.
Additional Info / Disclosures to Multisig:
Other Notable Events relevant to STIP.BCampaign
- Spaces with Dolomite, Redacted, and The Rollup
Statistics
Metrics below will be according to the initial phase being the six vaults that were incentivized since the start of the STIP.B period (2024-07-23 to 2024-08-06). The Dune dashboard is still in progress, however I have created some views specific to the STIP.B period that can be found at the bottom of the page. Dashboard: https://dune.com/premia/premia-blue
Average daily TVL:
TVL Today 3.5mm in USD
Beginning TVL ~2.49mm in USD
Average daily transactions:
3525/15 = 235 Daily Transactions
Number of unique user addresses:
886 - (Since 2023-11-15)
Transaction fees:
3.4 eth
Link to Dashboard showing metrics: [https://dune.com/premia/premia-blue]
Dashboard development remains in progress, however significant strides have been made. For those interested in tracking the requirements document (as well as the details shared with OpenBlock Labs) please find the dashboard requirements document. We will continue to advance the dashboard over the coming days, and expect completion in December.
Plan For the Next Two Weeks
Amount of ARB to be distributed:
48,125 ARB to Vault LPs (rate of ~24k/week)
61,250 ARB to Maker and Taker (To Start 2024-08-06 rate of 30k/week)
12,225 ARB to Archetype users that buy downside protection
Mechanism for distribution incentives:
- Dual Mining Smart Contracts for Vaults
- Bi-Weekly distribution to Takers & Makers incentives based on dune dashboard
- Simple claiming contract for archetype traders
Summary of incentives plan:
- All Dual Mining rewards for Vault Deposits 2024-07-23 (12 additional vaults)
- Maker & Taker incentives begins 2023-08-06
- Marketing Events with partner protocols ongoing
Summary of changes to the original plan:
Initially, the trading incentives were to be mainly used for the vault product; this has been revised to allow better feedback loop and experience for traders. The other behavior to be incentivized will be determined by a wallet’s options trading volume and interactions with Archetype.