Following the ARDC recommendation, we believe that this proposed addendum requires further review by the DAO. Therefore, we challenge its optimistic approval so that the delegates can form an opinion on the merit of renewing the incentives received during the STIP.
We are publishing the review conducted by Blockworks for greater visibility and advice to the applicant to provide an explanation for the concerns raised.
“Protocol allocated a substantial amount of incentives to programs meant to incentivise usage related to major sports events. Wallets associated with these focus programs still hold 110K ARB. Post-incentives, the number of monthly unique wallets has stayed accelerated. Details on the exact new incentive mechanism structure have not been given, but new buckets include gas sponsorships and ARB vouchers. The latter can only be used as collateral to trade and distributed as activity rewards, meaning that this seems to lead to a situation where trading volume increases but likely in an inorganic way.”