This proposal aims to adjust the $BORING rewards of the Curve pool. Instead of rewarding 100k $BORING per day for the Curve pool, only 20k $BORING will be rewarded per day, while 50k $BORING will be dedicated as incentives for Votium per day (in total 350k $BORING per week). Votium, simply speaking, is a tool to bribe the CVX holders, in order to increase the APY of the Curve pools. Based on the calculation as well as the results released on Votium in the past few weeks, it is found that the ratio of the bribe incentives to the rewards is about 1 to 5. Therefore, by investing 50k $BORING per day to Votium, the oBTC holders will roughly get a 3-5 times higher APY, leading to a higher reward rate while lowering the inflation rate.
If the proposal is adopted, not only the overall reward rate in the Curve pool can be elevated by 3-5 times with a lowered inflation rate, but also encouraging more BTC holders to use the cross-chain service to enjoy the higher APY in the Curve pool, leading to increased transaction fees, which will be awarded to the $BORING holders.
If the proposal is opposed, no incentives will be dedicated to Votium and the total rewards as well as the APY for oBTC holder in the Curve pool will remain unchanged.