[MIP-24] Temperature Check - Proposal for Maia Community Consideration for veHERMES Votes

I. Introduction & Rationale

Dear Maia Community, We are putting forth a proposal regarding the future direction of our gauges, especially as we transition towards V2. Our observations indicate that certain gauges, namely:

Metis/m.USDC

Metis/wETH

m.USDT/m.USDC

wETH/m.USDC

are not yielding optimal returns.

The revenue from these gauges is overshadowed by the emissions that liquidity providers are receiving and frequently selling. This trend is diluting the value for both MAIA and Hermes stakeholders. Given the current performance of Hermes V1, we believe it's in our best interest to reconsider our approach.

Objective : Our primary aim is to ensure the preservation and growth of value for our community as we transition to V2.

II. Proposed Voting Allocation Strategies

We propose changing the vote allocation for the aforementioned gauges:

Yay: I support this measure, we should explore changing vote allocations and follow this proposal up with a second vote determining what strategy to apply.

Nay: I do not support changing vote allocations.

III. Implementation & Timeline

Upon community consensus: The chosen strategy will be activated in the immediate epoch post-vote. This decision will remain valid up to the V2 launch or until a subsequent community vote suggests otherwise.

IV. Potential Implications

It's crucial to understand the broader implications of our decisions: Removing liquidity from the mentioned pairs might affect Hermes' standalone functionality. Users might need to rely on a dex aggregator for optimal trading experiences. Current trends suggest a significant volume might be redirected through UniMaia.

V. Voting Mechanism

For clarity in decision-making:

If the community favors one option with more than 50% votes, we will proceed with it.

We value the collective wisdom of our community and urge all members to participate in this pivotal decision. Your voice will shape the future trajectory of Maia.

Warm regards,

Community of Maia DAO

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