SWPR token emissions indicated in the original SWPR signal proposal are coming to an end.
- Under current stipulations set by the original proposal, Swapr Arbitrum will have zero planned SWPR rewards starting 2022/09/29.
- Under current stipulations set by the original proposal, Swapr Gnosis Chain will have half rewards from 2022/09/29 to 2022/10/27 and no planned SWPR rewards after this date.
- SWPR community to participate in discussions for future token emission plans.
- Snapshot and forum thread to come Thursday, the 29th of September, 2022.
SWPR token launched in late August of 2021 following an on-chain signal proposal to DXdao. This proposal “authorized” the correct SWPR token on mainnet – providing an initial snapshot of SWPR token utility, fee model, and most importantly today, an initial liquidity mining plan. These campaigns have helped bootstrap liquidity on Arbitrum One and Gnosis Chain, and also, more notably, have distributed SWPR token and governance power to over 6000 addresses.
You can find the initial discussion thread surrounding SWPR token on DAOtalk.
The “initial liquidity mining campaign” that passed on-chain provided a plan for the first 365 days of SWPR token emissions, indicated under the “Liquidity Incentives” bucket, utilizing a rolling “Epoch” based approach. In the initial configuration, these Epochs resulted in two-week campaigns on all SWPR pairs, which were later extended by combining two Epochs into each campaign.
(As another fun bit of history, SWPR launched with an 80% issuance to the, at the time, newly launched Arbitrum network).
On 2021/09/16 at 15:00 UTC, the very first SWPR emissions started on Arbitrum, followed shortly after by mainnet and Gnosis Chain. After exactly a year, SWPR emissions indicated in this initial proposal are concluding on Arbitrum on 2022/09/29, with Gnosis Chain having one remaining Epoch of rewards to be distributed over the coming month (2022/10/27 conclusion date).
This isn’t the end of SWPR rewards, only to the plan laid out in the SWPR token authorization! Going forward, the community will engage through SWPR governance to signal a running plan for the future of SWPR token emissions, starting with a snapshot proposal and accompanying forum thread on Thursday, the 29th of September, 2022. SWPR token could take a variety of interesting approaches to token distribution from here, including but not limited to smaller focused liquidity emissions, direct model-based distributions (Read: Velodrome), initial approach extension, and even nothing. More information on potential approaches will accompany the snapshot proposal later this week.
As time goes on, the value of the token emissions for liquidity mining diminishes as it releases more and more SWPR onto the market. Going forward, the SWPR squad believes it should wean itself off of direct token emissions and focus on pairs and auxiliary services - like eco-router, eco-bridging and Carrot - where it has a competitive advantage.