Hi everyone. veSCREAM lockers may have noticed decreased rewards over the last few weeks.
08 Mar 2023, 19:40
Hi everyone 🙂
veSCREAM lockers may have noticed decreased rewards over the last few weeks. Originally, these rewards came from buybacks using protocol revenue. However, this pool of reserves has now run out.
As V2 protocol revenue is already committed to restoring liquidity on the V1 markets, veSCREAM rewards are now paid from treasury-held SCREAM governance tokens. These resources are of course finite and thus have been reduced to 500 tokens for this week’s distribution.
We will continue to honour weekly rewards for veSCREAM lockers with treasury held SCREAM tokens, but this will decrease over time as we work toward implementing sustainable, decentralised governance through other methods.
Locking and extending will be removed from the veSCREAM UI in order to deter further locking, maintain revenue for current lockers and assist with the migration to a new fully decentralised sustainable governance model.
We understand this is not ideal but is a necessary step and one which we value community input on.
There will be more news around our plans for fully decentralised governance and migration in the near future.
Thank you!