I saw Serum’s latest announcement regarding the launch of a $100M Liquidity Mining Program, but I’m confused on when this was actually voted on.
The official Liquidity Mining Program post had lots of discussion, but it looked like many were in favor of a Volume Incentive Program.
The only Serum vote I see that was passed is the 1M Atrix SRM Grant, but this Serum medium post says:
We are delighted to announce that the Serum DAO voted and approved a new Liquidity Mining Program starting with an initial allocation of $100M.
Yeah - I didn’t see the vote for this either. What gives?
Looks like the medium post was updated to more accurately reflect what happened. A $100M Liquidity Mining Program was never launched. Only Atrix’s proposal was voted on and approved.
I just read the (updated) article. So, from what I understand, developers (and contributors) who help support the Serum network allocated this $100m in SRM towards the liquidity mining program. The DAO voting for Atrix was the starting point. The DAO will continue to choose where this money goes, with upcoming votes for Raydium and Mercurial.
And additionally, the total amount of SRM rewards to be allocated across all phases is ultimately subject to voting