Summary
This proposal aims to 1) obtain 1M MARS from the community pool funds and 2) use these funds to reward deposits of the following assets into Red Bank for 30 days: ATOM, OSMO and axlUSDC.
Abstract
The objective of this proposal is to reward early users of the “Red Bank” feature of the Mars Protocol with governance power to ensure that they have a strong voice in the parameterization of the Mars protocol in the future. In order to do so, such users will be rewarded with MARS tokens as set forth herein.
Motivation
This proposal intends to kickstart interest and activity in the Red Bank by rewarding the deposits of OSMO, ATOM, and axlUSDC into the Red Bank.
Specification
This rewards program sets out the distribution of rewards for each of the three assets listed on Red Bank.
| Asset | Deposit Rewards [MARS] |
|---|---|
| OSMO | 600k |
| ATOM | 275k |
| axlUSDC | 125k |
Risks
There is no guarantee that MARS recipients retain their MARS or use it in governance.
Implementation
This rewards program will commence upon the launch of Red Bank. The duration of this program is strictly for 30 days only.
The MARS community fund is held on the Mars Hub blockchain. Accordingly, if the proposal is approved, the required MARS would be IBC’d to Osmosis from the Mars Hub and directed to the MARS rewards contract ‘incentives’ contract.
Disclaimers/Disclosures
This proposal is being made by Delphi Labs Ltd., a British Virgin Islands limited company. Delphi Labs engages in incubation, investment, research and development relevant to multiple ecosystems and protocols, including the Mars Protocol. Delphi Labs and certain of its service providers and equity holders own MARS tokens and have financial interests related to this proposal. Additionally, Delphi Labs is one of several entities associated with one another under the “Delphi Digital” brand. Delphi Digital’s associated entities and/or equityholders or service providers of such entities may hold MARS and may have financial interests related to this proposal. All such entities, service providers, equity holders and other related persons may also have financial interests in complementary or competing projects or ecosystems, entities or tokens, including Osmosis/OSMO. These statements are intended to disclose relevant facts and to help identify potential conflicts of interest, and should not be misconstrued as a complete description of all relevant interests or conflicts of interests; nor should they be construed as a recommendation to purchase or acquire any token or security.
This proposal is also subject to and qualified by the Mars Disclaimers/Disclosures. Delphi Labs may lack access to all relevant facts or may have failed to give appropriate weighting to available facts. Delphi Labs is not making any representation, warranty or guarantee regarding the accuracy or completeness of the statements herein, and Delphi Labs shall have no liability in the event of losses or damages ensuing from approval or rejection or other handling of the proposal. Each user and voter should undertake their own research and make their own independent interpretation and analysis of all relevant facts and issues to arrive at their own personal determinations of how to vote on the proposal.