Your Yield, Your Vote

This discussion pertains to whether the Treasury is to pay out its first yield now as initially indicated or whether would holders prefer to wait a further 10–14 days in order to allow the Treasury to grow further for the benefit of future yield.

This is a yes/no vote.

Context:

Building a healthy GLP floor as early as possible is a key part of our ability to distribute a consistent yield for the long-term success of this project.

We have currently accrued 20,616 $GLP which, at the time of writing, has an APR of 28.8%. As this position is two weeks old today and has been steadily growing – together with the fact that APR was 1/3 lower until the volatility over the last few days – the current yield from this position is $67.18 in ETH + the GLP value ($17,541.92) for a total of $17609.08.

The available profits generated from our leverage trading, which have not already been fed back into solidifying our GLP position are currently $138 These combined positions equate to $205.18 at the time of writing which, less 20% team commission, would mean a distribution of $164.14 to holders.

In order to help calculate what your yield would be today this equates to :

$x per 1% held and $x per 0.1% held. Just to be clear, the 29k $Levi tokens held in the Treasury wallet will be excluded from the calculation of yield.

As you know, you are not required to stake your tokens, you will simply be airdropped these rewards in ETH just for holding.

Finally, our devs are working to create functionality that will allow you to claim your share of yield directly from our website to your wallet. In the first iteration, just the yield generated from trading will be available to claim since the contract structure to claim yield from GLP is a bit more complex; this doesn’t mean this is not coming, it just means it won’t be present in the v0.1 of the claim mechanism.

We hope the above numbers help you to inform the proposal you are voting on. Should you vote in favor of distribution yield will be remitted as soon as possible following the vote close [Nov 14, 5 am UTC] and based on a snapshot of wallets taken at the time voting commences.

Should you vote to delay, then the first distribution will be remitted 10 -14 days from the closure of this voting round. There will be further votes for holders regarding matters such as % of Treasury earnings directed towards GLP or leverage trading. At the moment such decisions are being taken by the team and influenced by our gauging of community sentiment.

Until such a vote, the team will decide what % is fed into growing our GLP floor and what is sent to the Distribution wallet. This decision will, of course, be largely driven by the level of success our leverage trading activity enjoys. If yield payment is delayed, the team will also decide whether the currently available profits from leverage trading are compounded into larger leverage trading positions in order to secure a larger yield.

As we have always maintained, our mission is without precedent and will be subject to trial and error, community sentiment, and market conditions. We are bringing a pioneering approach to meme coins and achieving our goal of returning consistent yield will not have a one-size-fits-all approach.

The project is in its infancy, and the decisions we make at this early stage will determine its success. Similarly, our plan to integrate community-driven trading will also be something that develops with time with the approaches determined by you via community governance.

If you have any questions regarding the information above, or any thoughts or concerns, please contact us or discuss directly with us and the community in the open.

We’re excited to build with you. Let’s build something great together.

For more information, users are requested to reference the following medium post: https://medium.com/@leverageinu/your-yield-your-vote-introducing-leverage-inu-dao-c219fcaa39e1

~Team Levi