Proposal: Utilize the treasury to earn yield

As it stands right now Euphoria's treasury has amassed roughly $18.3m worth of stablecoins and ~$700k worth of ONE as reserve assets.

These can be put to more productive use and earn yield for the treasury instead of just being idle in the treasury.

We're proposing withdrawing $15m of these reserve assets and putting them to use on Harmony, Terra and Avalanche to earn yield for the treasury.

Yield farming strategy

The proposed yield farming strategy can be viewed here: https://docs.google.com/spreadsheets/d/1HSoPmcbPGxyTMjBkEBEDejVtljrYxV5uIFpQEu69p6Q/edit?usp=sharing

A multi-chain farming strategy

The plan we propose is to deploy the assets across three separate blockchains: Harmony, Terra and Avalanche

While we'd prefer to keep everything on Harmony that's unfortunately not possible due to:

• Certain products not being available on Harmony (e.g. Anchor)
• Harmony's protocol incentives (e.g. for Curve) being significantly lower than what's offered by other chains like Avalanche.

Our primary goal is to stick to battle-tested protocols such as Anchor, Curve and SushiSwap. These have been around for ages and have proven their stability.

Potential returns

Based on our proposal $15m worth of deployed assets could generate $3.65m in profit on a yearly basis, or $4.8m if compounded on a daily basis.

Obviously APR:s aren't static and they'll change throughout the year - so the figures mentioned above should be considered as estimates.

Even if they're just estimates they still give us a rough idea to what degree yield farming can be utilized to strengthen Euphoria's treasury, runway and backing.

What can we do with the yield/returns?

The earned yield can be utilized in multiple ways:

• Keep compounding it using the farming strategy for even more returns (and thus increasing the backing and extending the runway)
• Utilizing parts of it to pair with WAGMI to improve protocol liquidity (i.e. making the protocol more resilient to whales dumping)
• Utilizing parts of it for WAGMI buybacks (which is usually a very short term "solution", but this can be discussed at a later stage)

Voting options

• YES: deploy the treasury reserves & earn yield for the protocol
• NO: do not withdraw reserves from the treasury