RFC Sunset V4 Avalanche Prize Pool

1

The Finance team proposes sunsetting the Avalanche V4 pool

Reasoning

  • Only 55k USDC in TVL
  • No significant new deposits for months
  • No plans to deploy V5 on Avalanche
  • Yield has become outlier and managing $2 a day in yield not worth our efforts
  • Remove general operations and costs (draw awarding and prize liquidity)

How it would work

  • With support for this RFC we would have the vote on Snapshot
    No onchain vote is needed
  • If Snapshot passes the ability to deposit to Avalanche would be removed from UI
  • A 45 day notice would be broadcast across communication channels - UI banner, Discord, Twitter, and Community Call
  • After 45 days we set the DPR to zero and prizes effectively stop
  • Set balanceCap to zero so that no new balances
  • Remove prize liquidity in excess of outstanding claims. All claims are guaranteed but no new prizes need to be supported.

Account/Withdraws would of course remain available on the app

Please share any questions or concerns in this thread or reach out on the forum.

  • Yes retire the Avalanche deployment
  • No I love Avalanche and Ill explain why we should continue to support it

0 voters

5 Likes
2

Bumping this topic up. Sounds like the right thing to do. The Avalanche deployment never got the traction or incentives it deserved. With USDC.e as underlying asset it feels more like a risk than a value add after all the time has passed.

With the hyperstructure coming up the timing is right to cut unnecessary or outdated dependencies. I’m for retiring the deployment.

3

The proposal is live on Snapshot: Snapshot

4

grass will be greener elsewhere…