Reduce Omnipool weight cap for aDOT (DOT) from 30% to 10%
Summary
This referendum lowers the Omnipool weight cap for aDOT (asset 1001), the DOT position in the Omnipool, from 30% to 10%.
Rationale
The weight cap limits how large a share of Omnipool liquidity any single asset can take through new deposits. aDOT currently sits at roughly 15% of the pool. Lowering the cap to 10% caps further concentration in a single asset and moves the Omnipool towards a more balanced risk profile - as well as encouraging liquidity towards the new concentrated liquidity pool.
Note that DOT farming incentives were stopped by a previous referendum in order to encourage LPs to withdraw, in order to reduce the proportion of Omnipool that is in DOT - however, due to the low yields provided by staking users have continued to make deposits into the Omnipool.
Effect
- The cap is enforced only when liquidity is added. Trading, withdrawals and liquidity-mining positions are not affected.
- Because aDOT is currently above 10%, new aDOT deposits will not be accepted until its share of the pool falls below the cap.
- No other asset or parameter is changed.
Technical details
Call: omnipool.setAssetWeightCap(1001, 10%)
Preimage hash: 0xb4ef77ca954b061d157010d381fd990dfaf533b3515bc8d2ea422336fe18ec33
Track: OmnipoolAdmin