PTIP-86 Sunsetting V3 Pools

RFC: Sunset V3

This proposal is a sequel to PTIP-56: V3 Transitions in which we reduced the number of winners on V3 pools and changed the RNG to Blockhash to reduce costs. We now are seeking to remove operational costs and reserve takes to fully sunset the V3 prize pools

Current operations

Currently the protocol team operates a relayer task that automatically awards the V3 pools. This has cost as well as minimal maintenance and oversight. Meanwhile the pools take a portion of yield as reserve.

State of the pools

Pool TVL Recent Prize Reserve Tx Cost
USDC $997k $270 $150 $34
DAI $527k $143 $70 $37
UNI $386k $15 $15 $34
COMP $537k $0 $22 $25
GUSD $4,548 $3 $0 $25

*recent prize includes $COMP


  • V4 has been out for nearly a year and a half

  • No new deposits of significance have been made to V3 pools

  • V3 is not growing or being used and we don’t want to encourage it

  • Awarding the V3 pools has unknown future costs because of gas

  • Retiring from the task of overseeing the pools

  • Anyone can award the pools going forward and as more time passes prizes can grow over periods longer than one week, making the cost a smaller percentage of the prize


  1. Set reserve to zero for USDC, DAI, UNI, COMP, GUSD pools

Reserve registry 0xd1797D46C3E825fce5215a0259D3426a5c49455C

setReserveRateMantissa to 0

Pool Address (Current Reserve)
USDC 0xde9ec95d7708b8319ccca4b8bc92c0a3b70bf416 (50%)
DAI 0xEBfb47A7ad0FD6e57323C8A42B2E5A6a4F68fc1a (50%)
UNI 0x0650d780292142835F6ac58dd8E2a336e87b4393 (50%)
COMP 0xBC82221e131c082336cf698F0cA3EBd18aFd4ce7 (100%)

*no change GUSD already zero 0x65C8827229FbD63f9de9FDfd400C9D264066A336

  1. Protocol team stops rewarding relayer and recovers funded ETH. ETH can be saved for other protocol operational costs.

  2. Claim the pending reserves

Do you support sunsetting the V3 pools as proposed

  • YES - Support
  • NO - Against
  • OTHER - Lets talk

0 voters


Feels like it’s time! Thank you for getting this done. Impressive to see that there’s more value deposited in V3 on Ethereum than in V4.


Makes sense to me. Since we already have V3 front end partially depreciated (forwards to V4 & explainer on V3) it seems like a natural transition. Let’s be prepared to answer questions people have when they check on their deposits

1 Like

Adding SUSHI to the list to remove reserve rate, stop awarding and claim pending reserves.

TVL 14,458 SUSHI ($16,482)
Reserve Rate 25%

1 Like

This makes sense. Key points from our side discussion:

  • Impact is very small
  • The protocols v3 relies on are also phasing out
  • Cleanup of protocol assets

Want to note here that we use the same Defender Relayers for V3 and V4. There is no need to recover ETH; it’ll just stop being used for V3.

1 Like

Thanks everyone for participating in the poll and sharing replies. Most importantly I have not heard any pushback against the proposal. We will go ahead and put it onchain as a PTIP today and it will be live for voting alongside the TBR’s. Here is a draft of the parameters for execution with simulations.


PTIP-86 “Sunsetting V3 Pools” is live on-chain:

1 Like

Yeah, this is long overdue!..on to bigger/better things now! :raised_hands:t2: