This proposal, if approved, will:
- increase the GIGADOT pool amplification from
222 to 1,000 from block 8,628,000 to 8,700,000 - this will further concentrate the liquidity around the fair value vDOT peg received from Bifrost, allowing the pool to continue to absorb much larger quantities of vDOT without impacting the price of GDOT heavily
- cancel the ongoing DCA from vDOT -> GDOT from the GIGAHydration incentives
- DCA from
718,600 GDOT -> vDOT from the GIGAHydration incentives - effectively withdrawing the vDOT and helping to rebalance the GIGADOT pool
- DCA from
154,000 GDOT -> vDOT from the Hydration Treasury's GIGADOT holdings - helping to rebalance the pool further, as above
Over the coming days, we will explore how to unstake these vDOT through governance, before returning the unstaked DOT to the respective addresses on Hydration and DCAing them once again back into GDOT