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AIP-17: Handling of extra ALPACA tokens from the AIP-15 incentives

Background:

Per AIP-15.3 and AIP-15.4, the community has decided to allocate a total of 1,750,000 ALPACA as incentives for the Perp and AF2.0 product launch. ALPACA were to come from various sources

February Emission:

  • Per AIP-15.5, the community has also voted to use February emission as part of the incentives rewards. In total, 350,381.7 ALPACA was collected (Transaction can be found here).

Unclaimed ITAM rewards:

  • Per AIP-1, the last day to claim ITAM rewards was 15 March 2023. In total, there was 1,542,758 unclaimed ALPACA (Transaction can be found here).
The whole balance from the two sources above (1,893,140 ALPACA) are now collected in these wallet addresses:

Liquidation Treasury:

  • Currently, we have 305k ALPACA + $2.7k USD in other assets in the liquidation treasury (Address storing the tokens can be found here).

Early Withdrawal Fee:

  • Currently, we have 271k ALPACA in the early withdrawal fee wallet (Address storing the token can be found here).
Based on the info above, we have more than required ALPACA for AIP-15 from the Liquidation Treasury, Early Withdrawal Fee, and Unclaimed ITAM rewards. Extra ALPACA (~370k ALPACA) from these three sources will go towards weekly burns over time.
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This means the entire amount (350k ALPACA) from February will not be needed for Perp and AF2.0 incentives. And as stated in AIP15.5, the community will get to decide what to do with this portion of ALPACA.

Voting

This AIP will be a single-choice voting. There will be two voting options:
  1. 1.
    Burn - The entire Feb emission amount will be burned.
  2. 2.
    Reserve for future initiatives / product launches - $ALPACA will be kept in a multi-sig wallet, and deployed in the lending vault. The community will then decide again in a future proposal how to use these as incentives.

Resolution:

The community voted to reserve the extra ALPACA token from the AIP-15 incentives for future initiatives / product launches.

References: