PIP-55 Reward Mechanism Automation, WakeUp Labs Update Thread

Governance Proposals Approved Proposals
42

Epoch 36: Gas Refund and Rewards distribution proposal are now live on Snapshot

Gas Refunds:

https://snapshot.box/#/s:paraswap-dao.eth/proposal/0xeca8e40430abc3dac9b67e0f8122fbfe0de598a15977ba429c75bbc8ccd9975a

Total Gas Refunds: 190667.60 VLR

ETH Mainnet Merkle root:
0x329bb733396623d78b93cd4587874cd8c683b2e735bcc88bc6de616ca5e05ebe

Optimism Merkle root:
0xadb123d5ac4cd519d2add56541a78cf901484a1681e55c8c2f5bd05253fa80ba

Base Merkle root:
0x214a1198831f2b3cdae688897372521a3f3bc57e491bd8ee3d61912b86ae80c7

  • Distribution files here.

Check the distribution here: https://velora-verifier.wakeuplabs.io/

Rewards Distribution:

https://snapshot.box/#/s:paraswap-dao.eth/proposal/0xfeae910fe0315f5cdb76d956a6ffa5ff0850a75b233f933d41a24e58f72fd2ce

Total rewards: 31.79 wETH

Ethereum Merkle root:
0xd0d0c217c4010c621df25b25c79f30fbd22376cb4bdbd33e42af2efc6bbf6eff
Optimism Merkle root: 0x8bdaaf595002657c18cd66029153abe7aceb9945c93ad249042b9741cc11318b

Base Merkle root:
0x68c75b4f449fe8b46a997f709cc7589022700cdfa2ad6c35faa83db12c75c88d

→ WakeUp Labs distribution fee: 0.24 wETH

You can validate the distribution using the IPFS files here: https://velora-verifier.wakeuplabs.io/

Thanks!

43

Given the results obtained on Snapshot for PIP-74 the Gas Refund program will be discontinued starting November 19th 2025.

1 Like
44

Epoch 37: Gas Refund and Rewards distribution proposal are now live on Snapshot

Gas Refunds:

https://snapshot.box/#/s:paraswap-dao.eth/proposal/0x33f61ec4719a8341ee12534f90e3a0f3acd02f8197f8adf15c14c53ab23ff8a6

Total Gas Refunds: 153717.82 VLR

ETH Mainnet Merkle root:
0xbc562cb5b1055354ec22dfb93b4214350c1dfbcfe2ad3e932e3bba2a9d506341

Optimism Merkle root:
0xf646b0ff0f77da5ef67151b54c2737ad1d8af82143bbb7809906058495818fa6

Base Merkle root:
0xe3ece18f9684931af3a02febe7d680e9625cdde94c8bf5bd74a67aba12059347

  • Distribution files here.

Check the distribution here: https://velora-verifier.wakeuplabs.io/

Rewards Distribution:

https://snapshot.box/#/s:paraswap-dao.eth/proposal/0xa58a6b32386d6660fb58b81b63dd457f334955df9519a711aab9f16569bce6a6

Total rewards: 32.46 wETH

Ethereum Merkle root:
0x5e9e9789951e3dfb8d86253b455466f52c4bce3d878677a352b00f36b76b8672

Optimism Merkle root:
0xfcbe038f26d655def422cb1609df7dcb9a386a13cd9c7795affc80ddad7c5241

Base Merkle root:
0x109ca665d2ea396062d5940f3f3b0e856b9bf730a07d9fbe40241a40d04b0f8e

→ WakeUp Labs distribution fee: 0.24 wETH

You can validate the distribution using the IPFS files here: https://velora-verifier.wakeuplabs.io/

Thanks!

1 Like
45

PIP-55 Update — oSnap Deprecation & Rewards Distribution Status

As is publicly known, oSnap was deprecated by UMA as of December 15th, 2025, and can no longer execute transactions from Safe treasuries.

As a result, oSnap has been disabled for Velora, and we’ve switched to manual Safe execution as the default fallback.

A full technical report has been prepared documenting the investigation, the alternatives considered, and the reasoning behind this decision, to ensure transparency and serve as a future reference.

Important clarification

The governance process remains unchanged. We still run the scripts and submit the proposal to Snapshot. Once the vote passes, the only difference is that transactions must now be submitted manually and executed by the multisig signers.

Given the lack of a direct, multichain replacement for oSnap, this is currently the safest and most reliable approach.

A quick note on the last epoch:

The following epoch will have an APR of around 0%, as protocol fees were not sufficient to cover DAO operational costs while also generating a surplus for stakers or the treasury. As confirmed in internal discussions, this means no wETH was available for distribution, and therefore no Snapshot proposal will be submitted.

This decision follows the same financial discipline applied in previous cycles: distributions only occur when there’s surplus after expenses.

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Velora rewards for Epoch 38 + missing data
Restructuring Velora's Fee and Staking Model
46

Epoch 39 has no surplus for stakers.
Protocol fees were not sufficient to cover DAO operational costs, this means no wETH is available for distribution, and therefore no Snapshot proposal will be submitted.
This decision follows the same financial discipline applied in previous cycles: distributions only occur when there’s surplus after expenses.

Thanks!

1 Like