Optimism Liquidity Mining Update

April 26th, 2023

This is a short update to the current Optimism Liquidity Mining Program.

As mentioned in the discord the Optimism team mistakenly sent the OP rewards from a different multisig to the rewards gauge without letting us know. Due to this the rewards did not distribute. We are now working on recovering these OP rewards.

Moving forward there are going to be a few changes:

Rewards are halted until next Wednesday (3rd of May)
Next Wednesday the rewards will distribute to new vaults
The reward distribution will have a different weighting

Rewards Halted

Rewards will are halted until next Wednesday (3rd of May) so that we can help out the Optimism team.

Rewards Distributed to New Vaults

In order to earn OP rewards again you will need to withdraw your funds and deposit the funds back into the vaults, we will send out the exact links to these vaults closer to the date. You can withdraw your funds now or later, this is totally up to you.

Change in Reward Distribution Weighting

While these changes are occurring Optimism has decided to change the weighting of the rewards. The amount of OP that is distributed in total per week will stay as normal at 22,500 OP. Optimism will now also top up the reward gauge with 28 days worth of tokens (90,000 OP) so there should not be anymore days of waiting for top ups like in the past. To re-iterate again, these rewards will be distributed to NEW vaults and not the existing ones.

The New Vaults are the following:

wstETH/WETH 0.01%
https://beta.arrakis.finance/vaults/0xbe6ef8f9187574d1d7391457ac402d7843e59197?name=wsteth
22,500 OP (over 28 days)

wstETH/WBTC 0.05%
https://beta.arrakis.finance/vaults/0xdae76449bcd5fc51207b4d360210cf02873136b3?name=wsteth
13,500 OP (over 28 days)

wstETH/USDC 0.05%
https://beta.arrakis.finance/vaults/0x51330d78816589fdc18de01edf032594ca624479?name=wsteth
13,500 OP (over 28 days)

wstETH/USDT 0.05%
https://beta.arrakis.finance/vaults/0x7f832cf4c91d6a1d6f991faf4282f596fe517389?name=wsteth
13,500 OP (over 28 days)

WETH/USDC 0.05%
https://beta.arrakis.finance/vaults/0x1045387efbf2f2c6b8e23d5f4c13cb670c9c86d5?name=weth#
9,000 OP (over 28 days)

USDC/USDT 0.01%
https://beta.arrakis.finance/vaults/0x4c677f67b0d4b55da85d5b927259a700ba3da708?name=usdt
4,500 OP (over 28 days)

USDC/DAI 0.01%
https://beta.arrakis.finance/vaults/0xa2ea10d2e018cdfa656e129fd187cfa84f527557?name=dai
4,500 OP (over 28 days)

WETH/WBTC 0.05%
https://beta.arrakis.finance/vaults/0x1da8f3dac2fef4ad18852403668ede241b2585ab?name=wbtc
4,500 OP (over 28 days)

WETH/cbETH 0.01%
https://beta.arrakis.finance/vaults/0xeb39899cce9e32535af4568b25326ee9452c6e6a?name=cbeth
4,500 OP (over 28 days)

DAI-WETH 0.05%
DEPRECATED
0 OP (over 28 days)

These rewards will start distribution 3rd of May PDT.