Proposed Update to VIP Scoring Mechanism:
Current Criteria
RAVE Trade’s quanto perpetual futures can support virtually any token as collateral to trade perpetual futures. Currently only one whitelisted asset earns VIP rewards; $INIT earns a base rate of 20 points.
Proposed Change
RAVE proposes adding Milkyway’s milkINIT and Drop’s deINIT LSTs as whitelisted VIP assets on RAVE. We propose a 10 point base rate for both tokens. $INIT’s base rate of 20 points will not change, and no other criteria changes will occur.
Rationale
As a perpetuals protocol capable of onboarding virtually any token, RAVE seeks to onboard and incentivize Initia ecosystem LSTs to expand DeFi utility for yield-bearing assets and strengthen alignment across the Interwoven economy. There will be no change to existing $INIT criteria in order to preserve existing user’s points earning rates.
Target Implementation
Stage 6