Merit Approvals
Vote Result: YES
Rationale
This is the on-chain proposal for this Snapshot ARFC that we voted in favour of according to our rationale under the LBS Blockchain umbrella here. We understand @sakulstra’s frustration - however, we think it is much more important right now to have a tighter GHO peg for a longer period of time. We think ACI’s suggestion that the GHO budget should be earmarked for when it rewards a higher proportion of GHO borrowers makes a lot of sense. It may be better to hold off on executing the Merit program for GHO specifically once the ALC and Funding Update proposals are executed and have had time to have an impact on the market. We will vote YES in favour of this AIP and hope that the first iteration of the Merit program is successful.