Proposal: Approve ICHI Reimbursement for Transition to ‘Gas Saver’ Farm

A new liquidity proposal has been presented by the ICHI operations team. If approved, this will involve unstaking from current farms and staking into the new ICHI ‘gas saver’ farm. We propose refunding 2X the gas cost (denominated in USD) of making this transition from the ICHI community treasury. This gas cost will be automatically reimbursed in ICHI to every wallet that migrates its LP by 5/5/2021 and remains fully deposited in the new ‘gas saver’ farm on 6/5/2021.

Q: Why change the liquidity approach? A: While ICHI has been incredibly successful with its liquidity strategy, there have also been a number of problems:

• High gas costs of V1 ICHI farm contract
• Fragmented oneToken liquidity with risks of impermanent loss
• Spending ICHI rewards on tokens that aren’t oneTokens or ICHI (ie, LINK, wBTC, vBTC, etc)
• Lack of suitable liquidity pools and farms for oneToken treasuries

This proposal addresses these problems.

Here is the link to the detailed proposal: https://docs.google.com/document/d/12l2cEZz3oodJz0MpBJeK1XxAmEA1IBVkXTsW0WXiJBE/edit?usp=sharing