A schedule for KEEP rewards to tBTC pools.
After an initial 4 weeks of 50k KEEP / week in rewards across the tBTC metapool and any other tBTC pools that might be launched, the Keep team would like to offer to match any CRV rewards to tBTC pools in KEEP, up to 300k KEEP per week, for at least 8 weeks.
The idea of a match came up in Keep community discussions around rewards. We’ve struggled to choose the “right” amount of rewards for Curve liquidity pools, especially when rewarding a pool heavily with KEEP might mean less CRV rewards to LPs. A 1:1 rewards match makes tBTC pools similar to “joint ventures” between the Curve and Keep communities, and will hopefully yield the best outcomes for LPs and token holders alike.
We’re also interested in seeing tBTC LPs stake KEEP and become signers — access to capital and a preference for BTC exposure will make for strong long-term stakers.
Every gauge weight vote, the Keep team will record the spot CRV/KEEP price on Uniswap, and use that to calculate a weekly KEEP reward to be split across all Curve tBTC pools.
More rewards on Curve mean more liquidity and LPs. KEEP is especially interesting as a fairly new asset that isn’t widely distributed elsewhere; Curve will be the only place to earn KEEP for a while.
The outcomes of a positive vote here are difficult to enforce, and might need to act more as community steering.
- I’d vote for higher tBTC gauge weights with matching KEEP rewards
- Matching rewards doesn’t change how tBTC pool gauges should be weighted
- The idea is interesting, but needs work (share!)
- I’d rather not see matching KEEP rewards (why?)
Looking forward to your thoughts!