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closedEnded 4 years ago ยท Snapshot (Offchain)

SIP #14 - Diversify STG/USDC LP Position

By 0xE2D4...Aa4709

Diversify Stargate POL LP position into 2 additional providers Yearn & StakeDAO.

This will result in the protocol owning less LP into the vanilla Curve which can leverage boost from Paladin Finance resulting in the DAO able to almost double our reward rate. Whenever one entity hold over 60% of a pool in curve it becomes practically impossible to reach the higher tier of the boost.

The Yearn position will be selling the rewards into LP position resulting in direct buy pressure, while the StakeDAO position will keep generating CRV + SDT.

SDT can then be locked into their veSDT implementation to capture stablecoins and orient more rewards to our own Curve position (similar playbook as Convex).

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0
Votes 2906
VoterCast PowerVote & Rationale
0xC6a8...C0EFc6
3.272M

Yes - Let's diversify

0x4e5e...9b0256
2.855M

Yes - Let's diversify

0x51e4...41ba82
142,759

Yes - Let's diversify

0x1Ca5...1364d7
130,882

Yes - Let's diversify

0xe0B2...F3ACAd
105,358

Yes - Let's diversify

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VOTE POWER
0
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Proposal Status
  • Fri July 08 2022, 07:00 pmVoting Period Starts
  • Mon July 11 2022, 07:00 pmEnd Voting Period
Current Results

1-Yes - Let's diversify

7.134M

98.44%

2-Abstain - IDK

85,698.766

1.18%

3-No - Keep current strategy

27,645.519

0.38%
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