FIP-53: Farm d3pool on Convex
Summary
This proposal mints 50M FEI to deposit in the Curve d3pool (FRAX, FEI, alUSD), and stake the LP tokens on Convex to earn CRV & CVX rewards (currently ~25% APR).
Motivation / Background
See the post “FIP-53: Enter the Curve Wars” on the forum for full context : https://tribe.fei.money/t/fip-53-enter-the-curve-wars/3715
This proposal would be the first integration of Fei Protocol with the Curve / Convex ecosystems, and would be our first step in farming CRV and CVX tokens.
This would also increase the liquidity of FEI against other decentralized stablecoins such as FRAX and alUSD.
Specification
We can execute everything in one transaction, directly in the proposal. The DAO Timelock will mint itself 50M FEI, deposit in the d3pool, and then stake the LP tokens on Convex.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x70b6...ddeCA9 | 5.114M | For |
 0x6ef7...5C6148 | 3M | For |
 0x7E74...6001D2 | 2.509M | For |
 0xC64E...A5a484 | 2.5M | For |
 0x6A42...35ee9b | 2.038M | For |
VOTE POWER
Proposal Status
- Mon December 06 2021, 08:00 amVoting Period Starts
- Wed December 08 2021, 08:00 amEnd Voting Period
Current Results
1-For
18.337M