Discontinue MAGIC Arbitrum Nova LP mining HOP rewards

Unecessary selling pressure (214.33 HOP / day), useless incentive (who tf bridges to Nova in MAGIC…?).

Who’s responsible for managing that incentive stream? Was it introduced through a specific DAO-elected body, or how was it established?

It was established under HIP-29.

Hop Protocol provide ~12k HOP per month across the two pools as incentives to the community…

There wasn’t a specific budget or timeline for those incentives? Seems like a big oversight if there wasn’t and we should either vote to stop that stream, or at the very least reassess it.

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There was indeed no timeline for the incentives, and the common feedback was to initially bootstrap them rather than implement them on a permanent basis. RFC | MAGIC Fast Bridging Support - #14 by cwhinfrey

Yeah, I think that’s something that should be discussed on Wednesday’s call. cc @francom
Also good opportunity to see if there are other such initiatives running that we need to look into again.

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Thanks for bringing this up @Frozond and @Sinkas! This topic was discussed in yesterday’s community call and the cost to keep things as-is at the moment seems marginal compared to the cost of dev hours to implement this change. Additionally, Authereum Labs mentioned v2 will likely change liquidity mining so it might be a mute point.

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