PIP-25: Utilize veCRV and vlCVX to Subsidize JPEG-pETH Pool
IDEA The capital efficiency of subsidizing JPEG-ETH with CRV emissions can be improved by replacing ETH with pETH, providing another yield source for pETH borrowers
DEMONSTRATION Given the following scenario: 1,000 pETH + 2,000 ETH yielding 100% APY from 10M veCRV votes 500 ETH + 5,000,000 JPEG yielding 40% APY from 1M veCRV votes
Substitute ETH with pETH: 500 pETH + 1,500 ETH yielding 150% APY from 10M veCRV votes 500 pETH + 5,000,000 JPEG yielding 40% APY from 1M veCRV votes
Pool 2 now partially subsidizes pETH, increasing yield efficiency by 50% We effectively boosted yields without adding more CRV votes!
STRATEGIC IMPLICATION
By diverting pETH away from the pETH/ETH pool, we exert yield pressure, attracting prospective NFT minters while making our existing minters happy
JPEG purchase is now arbed through pETH/ETH pool, earning their LPs even more fees
Dogfooding: in order to receive benefits on our platform, the Pool 2 farmer must use 100% of our in-house tools, minimizing mercenary behavior and maximizing skin in the game!
ADDITIONAL LINKS FOR RESEARCH https://curve.fi/#/ethereum/pools/factory-crypto-157
PROPOSAL Authorize the JPEG’d DAO up to 25% of JPEG’d veCRV and vlCVX to subsidize JPEG-pETH Pool
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x9c50...a5dAC5 | 1.015B | Support Subsidizing JPEG-pETH |
 0x9f50...2DDa55 | 446.214M | Support Subsidizing JPEG-pETH |
 0x88a6...1E7FC3 | 416.057M | Support Subsidizing JPEG-pETH |
 0xE470...dAC46D | 310.58M | Support Subsidizing JPEG-pETH |
 0x4702...E247dC | 310M | Support Subsidizing JPEG-pETH |
VOTE POWER
Proposal Status
- Sat November 05 2022, 07:38 pmVoting Period Starts
- Tue November 08 2022, 07:38 pmEnd Voting Period
Current Results
1-Support Subsidizing JPEG-pETH
3.004B