SIP 1: Update Governance Framework with SGR Category

Improvement Proposals (SIP)
1

Summary:

Edit the governance framework to add a new vote category for gauge creation proposals

Context:

In APWine (Spectra V1), the pools were listed in the protocol after being voted on by the DAO and deployed by the core team. The listing propositions belonged to the APIR (APWine Integration Requests) category which was renamed to SIR (Spectra Integration Requests) after Spectra’s rebranding. The creation of pools in Spectra’s upcoming version is fully permissionless, thus making SIRs irrelevant. However, the deployment of gauges over selected pools will still be subject to the decision of the DAO.

Rationale:

Updating the governance framework to reflect this change will enable the DAO to continue managing the Spectra Protocol incentives efficiently. The framework update should clearly highlight what the new category of proposal can modify in the protocol, and which are the requirements for these proposals to pass.

Proposal:

Eliminate the SIR category.

Introduce the SGR category into Spectra’s governance framework.

SGRs should be used for the following purposes:

  • create a new gauge for a selected IBT/PT pair on Spectra
  • delete an existing gauge for a selected IBT/PT pair on Spectra

SGR should first be posted on the forum for a temperature check vote, with no requirements. After 3 days, the proposal can be submitted for voting on Spectra’s Snapshot with 3 voting options: Yes, No and Abstain.

The vote can last between 48 hours to 7 days. After this period, if the total votes number is below the quorum threshold of 5% of the veAPW supply, or if “No” votes exceed “Yes’’ votes, the proposal fails. If the total votes number exceeds 5% and “Yes” votes outnumber “No” votes, the proposal passes, resulting in the addition or removal of a Gauge, as specified.

If an SGR passes, it should be executed within 14 days following its approval. If the request aimed to create a new gauge, that gauge will follow the rules described in the latest tokenomics update proposal, that describes the gauge’s behavior.

Means:

Update the governance framework and provide a template for SGRs

Technical implementation:

Update categories in Spectra’s Governance Forum

Voting options:

  • Yes, discard the SIR category, introduce the SGR category

  • No, do not get rid of the SIR category, do not introduce the SGR category

  • Abstain

  • Yes
  • No
  • Abstain
0 voters
2

For your information, here is the template we propose, if this vote succeeds:

SGR Template (Gauge listing request)

Gauge Request Presentation:

  • Targeted Pair: …………
  • IBT contract address: ………………………………………………………………
  • Current TVL on in the Pair’s liquidity: ………………………………………………
  • Current TVL as IBT: …………………………………………………….
  • Twitter/Discord links: ………………………………………………………………
  • chain : ……………………………………………………………….

Simple summary:

[Short description of the project]

This proposal aims to add a Gauge for the ……………… Spectra Pair
The pool for the .…… pair is live since ……. .

We’d like to add this pool to Spectra’s gauge system to incentivise liquidity of our PT, as it would enable…

Benefit of this integration for …… protocol

  • Additional yield opportunities for the community or the protocol treasury
  • Increase the visibility of the project
  • Increase the TVL of the liquidity pool

Benefit of this integration for Spectra

  • Increase the tokenized TVL and the AMM TVL
  • Diversify the yield possibilities
  • Increase Spectra’s visibility
  • bribes for APW token holders

Metrics:

TVL of your project, TVL of the IBT, community size on discord, twitter, telegram, estimated yield for veAPW holders

Means:

amount of bribes if any

Community poll:

  • Yes, add …… pool to Spectra’s gauge system
  • No, do not add ……… to Spectra’s gauge system
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