Jan 17, 2021
AC Allocation and Weekly Emission Update
Week 16 = 10:00 EST 1/17/2021 to 9:59 EST 1/24/2021
Starting in Week 16, we will be introducing a number of changes to the weekly AC allocation and emission schedule.
The goal is to effectively open the acBTC ecosystem to a wider group of participants and incentivize long-term supporters without causing a supply shock in accordance with the weekly AC emission schedule.
- Usage Incentive will be renamed to Ecosystem Incentive. Currently, Usage Incentive makes up 20% of the weekly emission (12,000 AC) from Liquidity Allocation. The allocation percentage remains unchanged, but it will be used to incentivize ecosystem partners and supporters for creating synergies, growing traction and driving awareness for the acBTC ecosystem.
- acSafe is an insurance reserve designed to protect user’s interests in the unlikely event of a security breach in the acBTC system. Despite our rigorous approach to building and maintaining a secured system, we believe an emergency reserve is necessary to alleviate any distressed scenarios as the acBTC system becomes more complex. acSafe will make up 20% of the weekly emission (12,000 AC) from Liquidity Allocation.
- Affiliate Mining represents liquidity mining events scheduled outside of the acBTC ecosystem. For instance, the AC liquidity mining event on Loopring L2 DEX would be categorized as Affiliate Mining. As we foresee a rapid growth in DEX trading volume, we will allocate a portion of the weekly allocation towards promising DEXes to drive user acquisitions. Affiliate Mining will make up 15% of the weekly emission (9,000 AC) from Liquidity Allocation.
- AC Booster will be revised from the original 50% to 80% for all qualifying strategies. The shift in weighting is designed to curb short-term token supply on the open market and further strengthen long-term hold behaviour.
- Emission rate for the remaining unvested AC Boosters in Phase 0 will be slowed by half. The original 20-week vesting schedule proves to be a significant driver for short-term sell side pressure due to the concentration of AC allocation relative to the modest size of the community during the initial Phase.
Example: Entering into Week 16, there are 10 remaining vesting weeks for AC Boosters earned in Week 6. Now that emission is slowed by half, the remaining unvested amount will be vested over 20 weeks (prolonged by a multiple of 2) instead of 10 weeks.
*Liquidity Mining and Savings allocation is distributed via acBTC strategy, Uniswap ETH-AC LP strategy and the rest of the Savings strategies.
AC allocation for Affiliate Mining, Liquidity Mining and Savings will be minted directly to the ACoconut DAO multi-signature account. AC allocation for acSafe will be minted directly to the acSafe multi-signature account. Both addresses will be disclosed shortly.
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