Summary 📑

Implement the Convex 2Curve (USDT-USDC) yield farming strategy from Convex into the Spool offering on Arbitrum.

Proposal 📬

Spool’s Smart Vaults are created by building on the included set of potential yield strategies. With every additional strategy, the Spool toolbox gets larger and more attractive for new smart vault Creators from diverse backgrounds.

Therefore, with this vote the following new strategy shall be made possible for Smart Vault Creators to use in their Spools on Arbitrum:

Convex 2Crv

The Convex 2Crv Strategy consists of a strategy in which USDC & USDT respectively are deposited to Curve, while the Liquidity Pool Tokens that result from this action are staked & boosted in Convex. This strategy will support 2 currencies (USDC & USDT) and will be available on Arbitrum.

You can read more about it here.

Motivation 🔥

The continuous integration of new protocols into the pool of available strategies grows the possible combinations of Spools by an order of magnitude each time. While the yields of this specific strategy might not be on the higher end yet, they open up new possibilities for investors to align the design of their Smart Vaults with their preferences and, therefore, attract more TVR, which leads to an overall more prosperous Spool DAO ecosystem.

The technical implementation of the strategy will be audited.

Vote 🗳

With “Yes” you vote to implement the Convex 2Crv Strategy into Spool and increase the offering for new Smart Vault Creators, with “No” you vote against including this strategy.