Adding the BRETT Market to Seamless Protocol was proposed and passed via SIP-14.
To incentivize usage of this market, propose emitting esSEAM and BRETT emissions. The BRETT team has agreed to co-incentivize this market.
The BRETT community is active on Base, and bringing over their users to Seamless via co-incentives provides an opportunity to grow Seamless’s user base and TVL.
Context & Motivation
From what we’ve seen with the success of Seamless Spring , rewards help drive usage of the Protocol. Since Seamless Spring took off, Seamless’s supplied liquidity on the platform has nearly doubled to over $75MM. A big part of this was reward emissions and driving attention to the protocol.
With new markets opening up as of late i.e. AERO and BRETT, it would be great to reward users not just with SEAM or esSEAM emissions, but also that of the native token. The BRETT team has noted they will provide 2,576,000 BRETT in incentives to this market , and this proposal is to pursue those rewards to ultimately provide BRETT to users who supply BRETT liquidity on Seamless.
Next Steps
Would encourage discussion from the Seamless Community here to see if this effort is worth pursuing. Additionally, specifics around the reward intervals at which they would be emitted can be appended to this proposal as information is made clear.
If there is general buy-in, can look to move this to an onchain vote.
Just to clarify, the idea is to add 2,576,000 BRETT as rewards to users who supply BRETT liquidity on Seamless, right? If so I fully support this proposal. Btw, I think since rewards of other projects will definitely be beneficial to the protocol, I suppose that it would be wise to make it permissionless (given that rewards are provided by a project of the pool in question to avoid scammers), but that is ofc should be subject to another discussion.
I think this is a great proposal, and to @Ras point, it would be good to explore options for more seamless reward distributions. BRETT is demonstrating a pathway that other projects may be able to follow to grow their user base and have successful markets on Seamless. I support this proposal.
Seamless Spring has empirically been shown to benefit the protocol greatly.
It may reinforce similar future collaborations, where protocols provide incentives and that is something that will have a compounding effect on the Seamless ecosystem, especially if paired with esSEAM rewards.
Fully in favor of this proposal. I completely agree with @Ras’s point regarding permissionless emission allotment. However, this should vary from project to project given its risk profile. Nevertheless, I believe the proposal in question will benefit the Seamless community and agree that it should escalate to onchain vote.
Due to alignment to adding BRETT rewards to the BRETT Seamless Market and honoring the discussion period, this proposal will be moving to an onchain vote.
Seamless Spring