GDIP - 05: Liquidity Pool Expansion

Summary: This GDIP aims to have the DAO vote on if we should continue providing LP rewards on Harvest Finance.

Until today, GenomesDAO has focused on getting deep liquidity pools for ETH-GENE and ETH-GNOME, first on our own smart contracts and then boosted on polygon via partnering with Harvest.Finance.

We now have veGNOME. GenomesDAO has based its vote-escrow system on the veCRV model created by Curve Finance, which we have adapted to use the veGNOME token (veGNOME stands for vote-escrowed GNOME). The veGNOME model benefits DAO token holders by protecting the price of GNOME tokens by allowing holders to lock up their tokens for various benefits.

We already offer boosting on stablecoin vaults to 20% using veGNOME. One of these benefits will be boosting LP rewards of up to 50%. E.g., if the standard rate is 100%, you can be boosted up to a max of 150% APY.

Pros:

• Mainstream exposure. Through Harvest, more DeFi fans are likely to discover GenomesDAO.
• People do not need to move their existing LP if they don't intend to lock GNOME and boost.

Cons:

• Harvest takes a 10% commission in native tokens (this can apply downward pressure on price).

Please vote: Yes = Yes, continue liquidity pool incentives on Harvest Finance. No = No, discontinue liquidity pool incentives on Harvest Finance.