Vote on whether or not the Balancer protocol should extend the govFactor and keep it in perpetuity for Balancer V1 liquidity mining.
The govFactor was initially implemented as a trial to test voting incentives for the Balancer Protocol. The trial was successful as voter participation increased substantially across the board for all Snapshot Proposals.
For reference, the three most recent proposals prior to the govFactor vote averaged 91,000 BAL (~0.53% of circulating supply) compared to the three most recent proposals today which averaged 1.2M BAL (~7.0% of the circulating supply) in tokenholder participation.
With the upcoming transition to Balancer V2, there are no factors. Therefore, the govFactor will not be implemented in V2 liquidity mining.
This proposal aims to identify whether or not the Balancer protocol should keep the govFactor in perpetuity for V1 liquidity mining.
The govFactor is a 1.1x factor applied to the adjusted liquidity–the liquidity measured in USD terms after all other factors have been applied–of V1 LPs who voted on the most recent Snapshot proposal(s).
For more information on the govFactor and how it works, please read the original Snapshot proposal here.
- Yes, extend the govFactor in Balancer V1 in perpetuity
- No, remove the govFactor in Balancer V1