On-chain proposals from the DAOs that govern Stellar protocols — voted on-chain, summarized here with the context behind each one.
Aquarius governance proposal #128 fixes a voting system asymmetry where Against votes are counted toward the For quorum threshold, suppressing minority voting. The fix makes voting symmetric by letting Against votes count only toward the Against threshold, giving both directions equal strategic opportunity.
Aquarius proposes an Asset Eligibility Registry requiring governance approval for assets to receive AQUA emissions. The mechanism replaces an easily-exploited voting threshold with explicit yes/no governance votes, reducing rug-pull risk for liquidity providers while preserving open signaling.
Aquarius governance proposal #121 replaces the restricted-asset whitelist system with graduated penalties for assets with regulatory flags (AUTH_REQUIRED, AUTH_REVOCABLE, AUTH_CLAWBACK_ENABLED). Each flag incurs a 30% penalty, stacking up to 90%, with AUTH_IMMUTABLE capping penalties at 30%. Goal is to simplify governance while allowing regulated assets and leveling competition for smaller projects in reward distribution.
Aquarius governance vote approves whitelisting Glo Dollar (USDGLO) for liquidity voting and AQUA token rewards. USDGLO is a fully-backed, charity-focused stablecoin from Glo Foundation that directs all profits to public goods and charitable causes. Whitelisting brings a value-aligned asset to Stellar's liquidity infrastructure and strengthens ecosystem growth.
Aquarius governance proposal seeks to whitelist USDY, Ondo's yield-bearing Treasury-backed stablecoin, for liquidity voting and AQUA rewards. The move expands institutional asset diversity on Stellar's DEX incentive layer.
Aquarius governance proposes whitelisting PYUSD (PayPal USD) for liquidity voting and AQUA reward eligibility. The move removes asset-flag exclusions that currently prevent PYUSD from participating in Aquarius incentive mechanisms.
Aquarius governance proposal seeks to whitelist GYEN and ZUSD, two GMO Trust stablecoins, for liquidity voting and AQUA rewards. Both assets are regulated, listed on major exchanges, and actively traded on Stellar.
Aquarius governance proposal 115 aims to improve SDEX liquidity by adjusting the SpreadWeight formula's exponent from 8 to 69. The change concentrates rewards within the first ~2% of the order book, encouraging tighter spreads and higher-quality market-making.
Aquarius governance proposal shifts daily AQUA reward distribution from 3.5M/3.5M (AMM/SDEX) to 5M/2M, prioritizing the protocol's native AMM. Total emissions unchanged at 7M daily. The rebalancing aligns incentives with AMM's bribe revenue and reduces farming risk.
Aquarius proposes modifying SDEX reward distribution to split incentives 50/50 between buy and sell sides. The change prevents token issuers from dominating rewards through asymmetric liquidity while minting large volumes. It improves fairness, trader exit liquidity, and encourages symmetric market-making.
Aquarius proposes deprecating AQUA voting in favor of ICE-only governance. AQUA currently represents less than 1% of voting weight; the change simplifies contract logic and clarifies ICE as the core commitment mechanism.
Aquarius DAO proposes repealing a 50M AQUA grant to WhaleHub, arguing the unproven platform risks treasury stability and ecosystem priorities. The proposal identifies treasury depletion risks, lack of demonstrated value, BLUB token dilution concerns, poor market timing amid price struggles, and governance gaps as grounds for repeal.
WhaleHub, a yield optimization platform, proposes a 50M AQUA grant from Aquarius to lock tokens for maximum ICE rewards and seed a BLUB-AQUA liquidity pool. The platform aims to attract new users and boost ecosystem liquidity through accessible, boosted-yield staking.
Aquarius proposes protocol-native bribes powered by trading fees, directing portions to voter incentives weekly. Ties bribe availability to pool usage, aligning governance with productive markets. At current volumes, would generate ~$750/day in bribes.
Aquarius proposes restructuring SDEX rewards from liquidity provision to trading volume, introducing a two-phase plan: decouple SDEX and AMM voting, then launch trading competitions with anti-wash-trading safeguards.
Aquarius DAO governance proposal to compensate a user 15.7M AQUA (50% recovery) for losses incurred in the XLM/AQUA stable liquidity pool during the Classic-to-Soroban migration. On January 25, 2025, UX issues led the user to deposit highly unequal amounts, triggering $42,000 in losses. The proposal pairs DAO contribution with community matching.
Aquarius proposes tightening spread requirements for SDEX liquidity provider rewards. Only offers within 1.5% of market price from either side would qualify for AQUA incentives, eliminating rewards for orders with 40%+ spreads that provide no real benefit to traders.
Aquarius DAO proposes downvote immunity for projects paired with major assets. The governance action would grant immunity from downvotes to projects paired with XLM, AQUA, USDC, or EURC, addressing anticompetitive blocking and enabling new DeFi projects like Blend to compete fairly in the reward zone.
Aquarius governance proposal introduces a tiered boost system for liquidity rewards. AQUA pairs receive a 50% boost (up from 25%), XLM and USDC pairs get 30%, with a 10% total reward cap per pair. The proposal builds on earlier governance efforts and aims to incentivize interconnected markets while reducing isolated, manipulation-prone liquidity pools.
Aquarius proposes consolidating AMM rewards entirely onto Soroban, deprecating the Classic AMM. Daily 7 million AQUA will split between the Soroban AMM and native Stellar order book liquidity providers. The Soroban AMM has matured with $6-8M TVL and passed security audits from CoinFabrik and Certora.
Aquarius proposes revamping its boost system with a tier-based framework that prioritizes authenticity and real liquidity over voting influence. The initial proposal creates 5 tiers with boosts ranging from 40% (AQUA/XLM pair) down to zero for other pairs, with future phases to add bonuses tied to asset age, trading volume, compliance, and verification status.
Aqua governance proposal to replace fixed 500k AQUA rewards for proposal creators with a variable system that ties rewards to proposal complexity, from 100k AQUA base to 1M AQUA maximum.
Aquarius proposes restricting assets with Stellar flags (AUTH_REQUIRED, AUTH_REVOCABLE, AUTH_CLAWBACK_ENABLED) that give issuers control over user wallets. The two-stage approach blocks flagged assets immediately, then allows case-by-case community review via governance.
Dogstar proposes a 60 million AQUA grant from Aquarius DAO to lock XTAR/AQUA and XLM/XTAR trading pairs into the rewards zone for 8 years, allocating funds toward prizes and token sponsorship for the Dogstar League, a gaming-based platform where Stellar users learn DeFi through trading competitions.
Aquarius proposes a new exponential function to dynamically split AQUA rewards between SDEX market makers and AMM liquidity providers on a per-market basis. The system allocates rewards based on liquidity quality and volume, maintaining a 10% minimum floor for both venues. This aims to better incentivize market making across different asset types and market conditions.
MYKOBO requests 75M AQUA from Aquarius community DAO to lock AQUA/EURC, EURC/USDC, and XLM/EURC pairs into the rewards zone, driving liquidity provision and Euro stablecoin utility on the Stellar network.
Aquarius governance proposes permanently banning FIDR, iFIDR, DRA, and iDRA assets from protocol rewards due to fraudulent activities and ecosystem manipulation.
Aquarius governance proposal #76 proposes reducing the maximum reward zone allocation for any single market pair from 20% to 10%. The change aims to spread incentives more evenly, prevent reward concentration, and make downvotes more effective.
Aquarius proposes: all bribes in its voting system must be paid exclusively in AQUA token. The change aims to prevent price manipulation, eliminate trustline spam, and level the playing field for voters and projects. Currently, bribes can be paid in any asset, enabling price manipulation and artificial inflation of trustline counts.
Aquarius governance proposal to reduce the reward zone threshold from 1% to 0.5%. The change aims to expand which projects and markets can access rewards and gain further reach, helping distribute incentives more broadly across the Stellar ecosystem while driving liquidity provision.