SIP-X: Minichef rate management prior to retirement

Summary

Gradually set Minichef rewards to ‘0’

Motivation

The new crosschain gauge infrastructure is slated to make the current Minichef system obsolete. When preparing for a major operational overhaul like this; gradual retirement with ample opportunity for any involved parties to make adjustments is often the route of least friction.

Abstract

This SIP seeks to outline the procedure by which the rates of existing Minichef contracts on Arbitrum and Optimism will be modified in preparation for their retirement following the release of crosschain gauges.

Specification

  • Week-1

    • Review ownership and permissions and move them to saddle multisig/ops multisig
  • Week+0 (Release week)

    • Queue up tx for adding root gauges to gauge controller
    • Halve Minichef rewards (Optimism, Arbitrum)
  • Week+1

    • Users may vote for root gauges in the list
  • Week+2

    • RootGauges with votes have their rewards kept on mainnet for an additional week
    • Users can vote for RootGauges in the list
    • Halve Minichef rewards again (Optimism, Arbitrum)
  • Week+3

    • Voting results [from week+1] are bridged over to child gauges
    • SDL rewards for RootGauges from week+2 are kept for additional week
    • Users can vote for RootGauges in the list
  • Week+4

    • Set Minichef rewards to ‘0’

Poll:

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  • Against:

0 voters