SIP #14 - Diversify STG/USDC LP Position
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).
| Voter | Cast Power | Vote & 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 |
VOTE POWER
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
2-Abstain - IDK
85,698.766
3-No - Keep current strategy
27,645.519
