KPI Incentives Council
The KPI incentives council (KPIC), as established in proposal 42, oversees the distribution of requested KPI based incentives to strategy providers. Strategy providers can request for the distribution of incentives via a governance proposal and the council is responsible for determining if the cellar meets requirements to receive these incentives.
Additional information about the KPIC can be found in the initial forum discussion.
Cellars Incentivised For Q3
RYUSD
During quarter 2 2023, the KPIC received one request for incentives from 7 Seas Capital for the RYUSD cellar. The request was made for 850,000 SOMM tokens, corresponding to a performance of 6% APY on a TVL of $20M.
From the time of cellar launch on 27 January, 2023 to the end of Q2 2023, the RYUSD cellar has a geometric mean TVL of 10.08M and an APY of 4.9299%. More detailed calculations that verify the performance of this cellar can be found in this spreadsheet. Based on the request above, the RYUSD cellar qualifies for 400,000 SOMM tokens of retroactive incentives for Q2 2023.
While the proposal put forth by 7 Seas Capital requested 6 months of incentives to be paid, the council can only apply retroactive incentives for performance to date. A new proposal will need to be put forth for this cellar to receive Q3 2023 incentives.