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BBChickensBBChickensby0x948E422Da3Bd457289C526C8bE6319949411BD5Abbchickens.eth

Build up $FTM via Lock Staked and Two Smoking Fantoms on Beethoven

Voting ended over 3 years agoSucceeded

Proposal from Shawm to start holding more $FTM in the treasury.

This would open up Lock Staked and Two Smoking Fantoms (FTM and sFTMx) as one of our investments.

Our largest holding is $FBEETS which is 20% FTM, we currently hold around 14,000 FTM in the treasury.

A pool holding FTM and sFTMx would have almost zero IL and would be a great option to safeguard our precious fanties and earn a 20% +/- APR on them in the form of BEETS. This is very similar to our holdings on Optimism (WETH and WSTETH), a very safe LP that should have near zero IL and rewards you with yield. 20% for essentially just holding $FTM is very attractive.

There are more options than the above for investment, but for ease of use on the multisig I believe keeping it on Beethoven is important and would = daily harvesting as opposed to letting our rewards build up to where they're worth harvesting on another protocol.

Please vote yes or no and voice any opinions you have on the matter in BBC-Cave, we mess around a lot but the more DEFI talk we can have the better for everyone!

Thanks for the initiative / suggestion Shawm! We'll leave it up to the community to make the decision.

Off-Chain Vote

Yes
185 BBC19.2%
No
778 BBC80.8%
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Timeline

Dec 14, 2022Proposal created
Dec 14, 2022Proposal vote started
Dec 17, 2022Proposal vote ended
Oct 26, 2023Proposal updated