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Degen Yeti Ski ClubDegen Yeti Ski Clubby0xf7084fA5D6FCc37c883d5d19832Af4afcA5730b3youngwhale.eth

Deploy Dormant Capital to Earn Yield on YieldYak and BenQi

Voting ended about 4 years agoSucceeded

So long as we are not spending our reserve assets (AVAX and stables) on investments, marketing, or development, why let them sit idle? We can earn 7-14% yield on single-sided-staking AVAX or 8.5-17% yield on USDC via platforms like YieldYak and BenQi.

This proposal is to allocate 50 AVAX out of our ~107 reserve AVAX (66 in Gnosis; 41 in Pangolin) to staking on these platforms to begin earning yield. Capital can be drawn from these accounts into other investments or opportunities as needed, but in the interim, they can earn yield. While YieldYak has slightly higher yield, QiAvax will be functional with the soon-to-launch Yeti Finance, so it makes sense to prepare some QiAvax as well, to see what it can do on the yeti.finance platform.

I propose a 30/20 YieldYak/QiAvax ratio to start.

A Yes vote means go ahead with these allocations. A No vote means do not.

Off-Chain Vote

Yes
2.24M 100%
No
0 0%
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Timeline

Jan 03, 2022Proposal created
Jan 03, 2022Proposal vote started
Jan 05, 2022Proposal vote ended
Oct 26, 2023Proposal updated