December 30th - 2022 comes to a close
Docs released, more $vICNC votes and Security Audit in the final stretch.
As the galaxy’s festive holidays end, the Conic rebel alliance was working hard at decoding the latest Cone Link transmission, bringing exciting updates from the last fortnight covering the additional Whitelisting votes, documentation release and more.
Before we dive in, all of us from Cone Link want to wish you all a Happy Holidays.
Whitelisting pool votes
Following the conclusion of the genesis votes, the Conic team followed up with a new ballot for Curve Pools that would be whitelisted for launch, which included FRAX, USDC and DAI.
The criteria for the underlying pools to be successfully included at the launch were as follows:
At least 34% support is required for inclusion at launch (pools can always be added or removed later).
A minimum of two pools had to be included; if less than two pools received 34% support, then the top two pools were chosen.
A maximum of four pools is to be included in the initial launch (more can be added in future).
If more than four pools pass the inclusion threshold, the top four will be chosen (based on votes).
The Results
Below we’ve outlined the Whitelisted results for each Stablecoin and their relevant underlying pools. You can see the final result vote weights for FRAX, USDC and DAI on their relevant snapshot pages, but here is a quick overview below:
The Whitelisted Curve Pools results for FRAX include FRAX + 3CRV, FRAX + USDC, BUSD + FRAXBP and GUSD + FRAXBP.
The Whitelisted Curve Pools results for USDC include DAI + USDC + USDT, FRAX + USD, FRAX + 3CRV and DAI + USDC + USDT + sUSD.
The Whitelisted Curve Pools results for DAI include FRAX + 3CRV, DAI + USDC + USDT and DAI + USDC + USDT + sUSD.
Conic Docs Go Public
On December 22nd, the official Omnipool documents were released, finally unlocking the cargo bay doors to enable the Coneheads to see the inner workings of the Conic ship.
A critical section that caught our attention, which was also highlighted in the official Conic discord by one of Conic’s longstanding community members (h/t NED), referenced the Conic platform fee logic, which could, in theory, be enabled via a future DAO vote; fascinating stuff, if like us, you’re a CNC enthusiast!
We highly recommend you delve into the documentation (in the linked tweet above) to learn more before the launch!
Incentivising Incentives
Community member Figue dropped an interesting proposal on the Conic discourse; this proposal is around optimising liquidity, moving away from traditional Liquidity Mining and utilising a vote incentives mechanism on Quest instead.
This move, in theory, could increase the current APR from the existing 122% to 145%. There is currently a discount on vote incentives (20%) which would mean Conic could get more rewards without increasing the emissions. The link to the proposal is here; there has been a lot of engagement and back and forth, so definitely worth taking a look if you’re a current Liquidity Provider.
Happy Holidays from the Conic Council
On the 25th of December, the Conic Team and Council sent out a festive holiday message to the community. It was a nice touch!
We hope the team had a relaxing holiday break with their families and wish them the best with the Omnipool launch in early 2023.
