Introducing iFARM (improved proposal)
👩🌾 Calling all farmers, we are introducing a proper vault for FARM staking that works alongside the existing autostaking FARM pool.
The vault will follow the same design as the other vaults. Users will deposit FARM, and receive receipts for it. Those have the form of an ERC20 token called iFARM. The vault itself will have a strategy which will perform doHardWork and stake their FARM into the existing autostaking pool. All profit sharing incentives work exactly the same as currently.
The gas fee of the new vault is about half of the existing autostaking FARM pool. People can decide to use the current one or the new one. There is no need for users to migrate at all.
Compounding in the new FARM vault existing alongside the current pool will be done by Harvest’s doHardWork.
Benefits:
- iFARM will be created, and the PS pool gets a substantial technical upgrade, so that it can be maintained easier in the future
- iFARM will enable staked FARM to be used as collateral on lending services without hitting the max portion of the interest rate curves due to high FARM staking rates
- iFARM will be a transferable asset. It can be passed from one address to another without the necessity of withdrawing FARM from the vault.
- iFARM opens the way to more innovation down the line
TDLR: Gas savings, no migration needed, autostaking FARM pool and the new pool exist alongside eachother, technical functionality is added enabling more innovation
🍓Yes, deploy iFARM 🍒 No, don’t deploy iFARM
Polls are open until Feb 12, 11pm UTC ~48 hours from now, giving ample time for everyone to vote.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x4649...ea392e | 18,050 | 🍓Yes, deploy iFARM |
 0x22fa...91Cb32 | 3,711 | 🍓Yes, deploy iFARM |
 0x7bA6...4B2C6D | 3,153 | 🍓Yes, deploy iFARM |
 0xCe3B...7Ec8f4 | 3,047 | 🍓Yes, deploy iFARM |
 0x034a...10674E | 2,104 | 🍓Yes, deploy iFARM |
VOTE POWER
Proposal Status
- Wed February 10 2021, 11:00 pmVoting Period Starts
- Fri February 12 2021, 11:00 pmEnd Voting Period
Current Results
1-🍓Yes, deploy iFARM
52,448.774
2-🍒 No, don't deploy iFARM
1,473.896