[ARFC] Grant OP Emission_Admin for Optimism v3 Liquidity Pool to Lido DAO – Governance

Title: [ARFC] Grant Lido DAO OP Emission_Admin for Optimism v3 Liquidity Pool
Author: @Llamaxyz , DeFi_Consulting (@MatthewGraham )
created: 2022-02-15

This proposal is intended to allow Lido DAO to distribute OP rewards through the Aave v3 Optimism Liquidity Pool.

The Emission_Admin role for OP on Optimism is currently assigned to the Optimism team and is scheduled to be transferred to Lido DAO.

Lido is trying to distribute OP rewards on deploying Aave v3 Optimism. To achieve this, the EmissionManager function reassigns an owner of the Emission_Admin role for OP. [1,2].

The wallet with Emission Admin permission for OP then controls the distribution of OP and LDO rewards on the Optimism Liquidity Pool. This proposal allows for the distribution of LDO and OP rewards across the Optimism v3 deployment.

Enable Lido DAO to distribute OP rewards across Optimism v3 liquidity pools.

Lido DAO is about to receive a grant nominated in OP tokens to be used for bootstrapping the launch of wstETH on the Optimism network.

The Lido Liquidity Mining Committee (LMC) will set the issuance rate and duration for which OP rewards will be offered for deploying Aave v3.

Typically, the LMC meets and determines the next 30-day rewards, which will be distributed on an ongoing basis. This means that each month the committee decides whether to extend the OP rewards or change the amount of OP offered in the Aave v3 liquidity pools on Optimism.

The EmissionManager, a governance-driven function, assigns the Emission_Admin role for a specific token, OP, in each respective network.

The Emission_Admin role controls the distribution of the specified token OP over the specified Aave deployment.

The Emission_Admin can distribute OP anywhere in the Aave v3 in the Optimism Liquidity Pool.

Emission admin: 0x5033823F27c5f977707B58F0351adcD732C955Dd

Copyright and related rights are waived via CC0.

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