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Sequoia DAOSequoia DAOby0xaA01dD01ea027C3880204caA7572101B34baD366ncrypt30.eth

Farming whilst we wait for movements

Voting ended over 3 years agoSucceeded

What is up la familia. Had a thought over past days from speaking with Pikfluff. I have a few options we could have whilst we wait for some directional trend:

1 - Buy 10k of BTC (Around 0.6) and stake with Arc for 55.90% apy. Without compounding this is 44.43% APR (0.1217% daily) (Roughly 800 arc per day) - Level of risk as buying BTC but also could be a good compound by buying BTC, BTC goes up and then we accumulate free arc which will also follow BTC.

2 - Buy 10k USDT and stake with Arc for 47.19% apy. Without compounding this is 38.67% APR (0.1059% daily) (Roughly 706 arc per day) - Zero risk, providing they dont get hacked.

Over 1 month, option 1 would return 24,000 ARC, option 2 would return 21,180 ARC.

There is 13 of us in the Multisig. Everyone needs to vote please and a majority will be the route we take. Any discussions, please do them in the new chat i just created call Farming proposal chat. I will close this chat after the vote is closed which is 24hrs.

Off-Chain Vote

Option 1
5 ETH50%
Option 2
4 ETH40%
Neither option
1 ETH10%
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Timeline

Sep 08, 2022Proposal created
Sep 08, 2022Proposal vote started
Sep 09, 2022Proposal vote ended
Oct 26, 2023Proposal updated