[Gauntlet] Polygon Rewards Contract Top-Up Recommendations (02/28/24)

Simple Summary

Gauntlet recommends adding 7,000 COMP tokens to the Polygon CometRewards contract, extending its operational period by ~100days given the ~70 daily COMP distributions in the Polygon v3 USDC.e comet.

Analysis

The following tables shows remaining days of runway per comet as of Feb 26.

Chain Remaining days of rewards runway (not including existing claimable rewards)
Polygon 65
Base 136
Ethereum 118
Arbitrum 107

Presently, the Polygon CometRewards contract is closest to depletion, with only 65 days of runway left. To ensure continuity, Gauntlet recommends increasing the contract’s balance to sustain 100 days of rewards at the current distribution rate. This requires an additional allocation of 7,000 COMP tokens.

Next Steps

Welcome community feedback. Target on-chain vote 03/04/24.

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On-chain proposal has been published here

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