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Gotchi VaultGotchi Vaultby0xa499Df2Bdae854093e5576c26C9e53E1b30d25E5bearded.eth

What to do with GHST underlying vGHST?

Voting ended over 3 years agoSucceeded

The Aavegotchi DAO recently voted to give voting power to holders of GHST that is staked on Aave (wapGHST). Simultaneously, there are rumblings that raffles and frens are going to be phased out soon. As such, the Vault needs to decide what to do with the GHST that is underlying the vGHST token (about 3.5m GHST). To minimize contract risk and keep the funds in the ecosystem, one option is to put the GHST into wapGHST and stake for GLTR. The pros are that this would earn Aave yield AND GLTR, although it would SIGNIFICANTLY dilute the yield of anyone in the wapGHST pool. It would drop the yield on that pool down to ~ 6%. Note that it would NOT dilute the amount of GLTR, which is on a fixed distribution schedule.

We have the contract upgrade set up and ready to deploy to move all GHST over from frens to wapGHST/GLTR. Alternatively, we could adopt more of a 50/50 approach, moving over half of the funds. I'd need to consider whether this impacts any other features in the contract though before implementing that.

Off-Chain Vote

Stake all GHST for GLTR
37.16K VLT96.4%
Stake all GHST just on Aave
5.22 VLT0%
Stake half the GHST for GLTR
340.89 VLT0.9%
Keep staking for frens
1.05K VLT2.7%
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Timeline

Jul 06, 2022Proposal created
Jul 06, 2022Proposal vote started
Jul 12, 2022Proposal vote ended
Jul 21, 2024Proposal updated