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BeetsBeetsby0x54112621902E4c667DaB80cE5105a72b448dE8e40x5411…E8e4

Farm LQDR using treasury assets

Voting ended about 4 years agoSucceeded

We propose to put some portion of the liquidity tokens in the treasury assets into LiquidDriver farms to acquire LQDR. Currently, the treasury holds about $180K worth of liquidity tokens (FTM-USDC and FTM-USDC-ETH-BTC) that can be used for farming on LiquidDriver. The farmed LQDR will be held in the treasury, its use will be decided by future governance votes.

Pros:

  1. this would put some portion of the treasury assets in further use, to accumulate LQDR;
  2. as LiquidDriver plans to work closely with BeethovenX to acquire fBEETS, getting LQDR for the treasury would help better align interests of the two protocols;
  3. in case that LiquidDriver acquires a huge portion of fBEETS in the future, holding LQDR (in the form of staked xLQDR) would give DAO treasury more voting power;

Cons:

  1. it exposes our treasury fund to additional smart contract risks (while the LQDR contract involved is a variant of the battle tested Sushi masterchef contract), interacting with any smart contract involves risk;
  2. it will dilute the farm on LiquidDriver.

Options (the one with majority vote wins):

  1. Yes, deploy treasury assets to the farm with a cap of 50% of liquidity tokens;
  2. Yes, deploy treasure assets to the farm with a cap of 25% of liquidity tokens;
  3. No, more discussion needed.

About LiquidDriver: LiquidDriver is the first liquidity mining dApp providing liquidity-as-a-service in the Fantom ecosystem. They aim to bring its users more utility, rewards, and long-term benefits through their native token, LQDR, and ultimately become the leading liquidity-on-demand platform for dApps on the Fantom Opera Mainnet.

Off-Chain Vote

Yes; deploy with 50% cap
7.29M 93.5%
Yes; deploy with 25% cap
421.04K 5.4%
No; more discussion needed
86.71K 1.1%
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Timeline

Jan 09, 2022Proposal created
Jan 09, 2022Proposal vote started
Jan 11, 2022Proposal vote ended
Oct 26, 2023Proposal updated