This proposal is adapted from its original just so that the change would be a valid one according to the current rules described here.
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RPL appears to be a coin with a purpose and a real use case.
The $26,465,785 70 RPL - 30 WETH pool is one of the biggest on Balancer and earns BAL at a rate of $10m worth of BAL/year.
Unfortunately it generates very little volume with 24h volumes oscilating in low tens of thousands of USD, last 24h volume: $30,891
A $2m pool would be enough to facilitate low slippage trading for such volumes so I propose reducing the BAL rewards cap to reduce from 10m to 3m. I think that the $10m yearly worth of rewards could be used to encourage other, more useful liquidity.
On top of the low trading volumes and low interest from traders, my subjective opinion is that the valuation is artificially inflated, Iām not happy about heavy concentration of this pool in hands of a single liquidity provider (90% single LP, recently >97%). CMC shows that this coin trades >$900k on Bilaxy and >300k on LBank within 24h which I find hard to believe. https://coinmarketcap.com/currencies/rocket-pool/markets