Summary
This proposal suggests that the Seamless DAO allocate $4,600 in SEAM over 4 epochs (epochs run 1 week long) to bribe voters on Spectra to vote on Seamless WETH Pool, resulting in SPECTRA emissions being allocated to Seamless Pools.
The goal is to attract more liquidity to the underlying Seamless Vaults via the Pools deployed on Spectra, helping Seamless 1) establish a strong presence in the growing Yield Token Splitting market; 2) drive more capacity into Seamless WETH Morpho vault and therefore the Leverage Tokens.
About Spectra
Spectra is an EVM-centric decentralized protocol that splits yield on yield-bearing tokens (PT/YT). Spectra operates across multiple chains and provides opportunities for protocols seeking to deepen their liquidity by offering fixed rate yield (PT) and variable yield/points (YT) products to DeFi users.
More details can be found here: https://www.spectra.finance/
Context and Motivation
Seamless has recently launched two Pools on Spectra pointing to the Seamless Vaults:
Deploying on Spectra is part of a broader strategy to tap into the Yield Token Splitting market while fueling liquidity for Seamless’s native leveraged and structured products.
To bootstrap liquidity and enhance visibility of these new Seamless Pools on Spectra, it is recommended that the DAO incentivize veSPECTRA voters with bribes to vote on Seamless Pools, ultimately directing SPECTRA emissions toward these Pools.
This proposal specifically targets the WETH Pool on Spectra as it will grow ETH liquidity in the Seamless WETH Morpho vault that is critical to scaling capacity for the recently launched Leverage Token product.
The DAO can explore incentives for the USDC Pool or other pools to be created at a later time.
How Voting & Bribing Works on Spectra:
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Spectra uses epoch-based voting (weekly).
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veSPECTA holders vote to direct emissions toward specific pools.
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Protocols offer bribes (in stablecoins or other tokens) to encourage voters to support their pools.
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Pools that receive votes receive a proportional amount of SPECTRA emissions to boost APY on those Pools, attracting more liquidity and participation.
The following Bribe Program is proposed:
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Bribe Amount: $1,150 per epoch
(~10% of average total bribes over the past 10 epochs) -
Duration: 4 epochs
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Total Budget: $4,600
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Token: SEAM
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Target: Seamless WETH Pools on Spectra
Note: Spectra contributors have signaled the readiness of allocating $1,500 worth of SPECTRA emissions to help bootstrap the Seamless WETH Pool.
Proposal Details
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DAO to approve the proposed $4,600 budget to bribe Seamless WETH Pools on Spectra.
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Core contributors to execute bribes for 4 consecutive epochs.
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DAO to receive a post-campaign analysis from core contributors.
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DAO to decide on whether to extend, modify, or discontinue the bribing strategy.
