SIP-26: Migrate SPA Incentives from Saddle FRAXBP-USDs to Bribe L2D4 Farm

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Voting will be open from 12/30/22 - 1/2/23

Title: SIP-26: Migrate SPA Incentives from Saddle FRAXBP-USDs to Bribe L2D4 Farm

Author(s): Sperax Team

Reference: SIP-X: Deploy L2D4 Pool and Gauge on Arbitrum - Proposals - Saddle Community

Created: 12/26/22

Labels: #LiquidityMining

Simple Summary

Redirect SPA emissions from Saddle FRAXBP-USDs farm to bribe the Saddle L2D4 farm at launch. Total incentives directed to bribe the L2D4 farm will be $2000 SPA/wk or roughly 57k SPA/day at todays value, from the Bootstrap liquidity budget. Discontinue incentivizing the FRAXBP-USDs farm when L2D4 launches.


There are currently 55,555 SPA/day incentivizing ~$795k TVL on the Saddle FRAXBP-USDs farm. This incentive, at current prices, amounts to roughly $8.5k/mo in incentives. As outlined on the Saddle forum a new pool and gauge will be live featuring FRAX, Alchemix, dForce and Sperax called L2D4. This pool will be incentivized from each partner via bribing the FRAX gauge. This proposal is asking the Sperax community to fund bribes to this new pool from the bootstrap liquidity budget at a rate of $2,000/week, or about 57k SPA/day at todays value, by migrating the emissions from the current FRAXBP-USDs pool to L2D4.


The L2D4 pool will offer users a unique opportunity to gather multiple governance tokens in the Arbitrum ecosystem and also aggregate stablecoin liquidity and improve routing for USDs. By partnering with FRAX, Alchemix and dForce, USDs can benefit from synergistic communities and improved TVL.


Commit to bribing the new L2D4 farm at launch by migrating rewards from the current FRAXBP-USDs farm to L2D4 at a rate of $2k SPA/week. Discontinue incentivizing FRAXBP-USDs farm when L2D4 is launched.

Technical Specification

L2D4 will be launching on Saddle. Consisting of the stablecoins $FRAX/$alUSD/$USX/$USDs and provide yield farming incentives in 6 governance tokens for a period of no less than 6 months in the native protocols goverances tokens which are: $FXS, $AlCX, $DF, $SPA, $L2DAO, $SDL. This proposal is contingent on equal incentivizing from FRAX, Alchemix, dForce and Sperax. Incentivizes in SPA from the Bootstrap liquidity budget at a rate of $2k SPA/week for a duration of a minimum of 6 months or until a governance proposal specifies otherwise. SPA will be rebalanced on a rolling 14 day basis based on a 14 day TWAP SPA price. The FRAXBP-USDs farm would no longer be incentives with SPA if this proposal passes, as its emissions budget will be utilized to incentivize L2D4.



Yes - Transfer rewards from FRAXBP-USDs to bribe L2D4 at a rate of $2k SPA/wk



  • Yes
  • No

0 voters