OIP-1: Gas Rebates for $ODOS Token Holders

Governance
1

Summary

This proposal introduces a 6-month gas rebate program for swaps executed via the Odos frontend (dApp), exclusively for $ODOS token holders. The program aligns gas rebates with the Loyalty Program tiers, rewarding up to 50% gas rebates for top-tier participants. A maximum rebate of $5,000 in $ODOS tokens per wallet per month will be enforced, with a total maximum allocation of 0.6% of the $ODOS total supply over the duration of the program. Additionally, a maximum of $200 in gas per transaction will be eligible for the rebate. Surplus rewards and advanced swap surplus eligibility remain unchanged, and will continue to be available in addition to the new gas rebates.

Rationale

This program incentivizes active usage of the Odos dApp, particularly for Advanced Swap users, while boosting overall traction on Ethereum and other protocols. By rewarding loyal $ODOS holders, it strengthens the token’s utility and community engagement, potentially increasing transaction volume and platform adoption.

Details

Gas Rebate Program

  • Eligibility: The program is exclusive to $ODOS token holders performing swaps through the Odos frontend (dApp).
  • Start Date: February 1, 2025
  • Duration: 6 months, with a potential extension based on results and community feedback.
  • Rebate Structure:
  • Limitations:
    • Maximum rebate per wallet: $5,000 in $ODOS tokens per month.
    • Maximum of $200 in gas will be eligible per transaction
    • Total allocation for the program: 0.6% of $ODOS total supply
    • Trades must be made from the Odos dApp (no API usage will be rewarded)

Surplus Rewards and Advanced Swaps

  • Advanced Swap Positive Surplus: Advanced Swap users remain eligible to claim any rewards based on positive surplus collected by their trades.
  • Simple Swap and Limit Order Surplus Rewards: Continue as is, rewarding users for any surplus generated by their trades.

Implementation

  • The gas rebate program will be managed through the existing Loyalty Program dashboard: Odos
  • At the end of the 6-month period, the program’s performance will be evaluated to determine whether an extension is warranted.

Voting

  • For: Approve the gas rebate program for $ODOS token holders as outlined.
  • Against: Reject the proposed gas rebate program.

We encourage all $ODOS token holders to participate in the governance process and share their feedback on this proposal.

2 Likes
2

Can you explain what’s the difference between this proposal and loyalty program we currently have?

I thought that it’s just an extension of loyalty program, but it seems, there’s something new proposed.

3

I feel like the app would get a lot more traction if there were incentives to hold or stake tokens. I’ve been holding since launch but there’s no way I can be rewarded.

I believe in ODOS however the airdrop program does seem to be lacking. The rewards just aren’t enough to bring users on board and drive hype up, in my opinion.

4

The Loyalty Program focuses on surplus rewards tied to specific transaction outcomes, like Simple Swap and Limit Orders. In cases when Advanced Swaps generate positive slippage, such surplus is passed on to the user.
Gas rebates are an additional incentive, which directly reduces the cost of performing transactions, providing immediate savings to all users but especially Advanced Swap users.

5

this proposal seems like a positive step for increasing activity on the Odos platform and enhancing the utility of $ODOS. It aligns with the platform’s goals of incentivizing engagement and rewarding loyalty. The gas rebate program will likely draw in more users, especially those who perform advanced swaps or are high-tier loyalty members.

However, I would be cautious about the long-term impact on the token’s inflation and price, as a heavy reliance on issuing $ODOS tokens as rebates could put downward pressure on the token’s value if not managed carefully.

Given the trial period of 6 months and the potential for further evaluation, I am inclined to vote for the proposal, with the understanding that the community and the team will closely monitor the impact and adjust as necessary.

6

I will vote for ; yes
It is definitely a good step for attracting more users who perform more transactions per day (for day trading). This is a proposal that can certainly increase the volume for the platform.
But personally, I think we should also focus on the aspect of the ODOS token itself in the near future.