The Web3 Foundation funding committee has confirmed that, despite a public agreement with previous Parity & Web3 Foundation leadership, they will not support any further incentives for DeFi from the Polkadot Treasury.
As a result - this proposal, if approved, will make adjustments to ensure sufficient liquidity for our most critical markets whilst we reflect on a new ecosystem strategy
This proposal will stop the following farms:
- 2-Pool USDT/C
- ASTR
- GLMR
- BNC
- KSM
- AAVE
- SKY
- LINK
- LDO
- TRAC
- SUI
- ENA
It will also place the following on-chain remark: Request the technical committee to whitelist a follow-up referendum to reduce the rate of reward distribution for the remaining farms and redistribute remaining funds from all stopped farms
Once this referendum successfully executes, the whitelisted referendum will distribute leftover funds from the stopped farms and slash the distribution rate of the remaining farms - with the exception of HOLLAR in Omnipool, which will be boosted to allow for liquidity to migrate from the 2-Pool USDT/C farm.