Following feedback on the proposal to establish the STIP Bridge, it was agreed to involve the LTIPP Advisors in this process with the mission to “help applicants gain insights into their proposals. This not only guides applicants through the process but also ensures that the DAO will review better proposals.”
Despite the inclusion of Advisors, this process does not involve the Council, leading us to believe that this addendum places a significant burden on the delegates who must review all the proposals. One of the reasons for the LTIPP was precisely to avoid this excessive burden. Moreover, the optimistic model adopted in this phase could raise concerns about the real control the DAO will have over these proposals, as reviewing six months of data for each applicant is time-consuming.
For this reason, we decided to accompany each application we reviewed with a brief report. We ask the delegates not to take this as an in-depth or definitive basis for deciding your vote, but rather as a guide that can potentially raise questions for your own analysis.
Regarding Tethanuts their KPIs were:
According to the metrics reported by OBL, the numbers are very encouraging:
They achieved considerable growth in TVL, fees, and DAU, all of which have remained above their levels prior to the start of incentive distribution.It is particularly striking how they have managed to maintain very high levels of TVL.
With the addendum incentives they plan to keep the same path + incentivize their new Pendle PT LRT Vaults on Arbitrum. We agree that the LRT narrative is strong and it’s worth investing in it.
A positive aspect for the addendum is that they set measurable goals for the DAO for future measure of the success:
Conclusions
The results shown during the incentive distribution are very positive, with the applicant having achieved the objectives set for the STIP. Therefore, it makes sense for them to propose continuing with the execution of their plan, while also incentivizing the new LRT narrative.