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OtterClamOtterClamby0xfc1FF1B1196B05a880Ec45eCd8fA3424F4e62ce30xfc1F…2ce3

CIP012 - dQUICK Leverage

Voting ended about 4 years agoSucceeded

Background: As OtterKingdoms liquidity is deployed in QuickSwap, we earn rewards in dQuick. For those not familiar with dQuick (Dragon Quick):

dQUICK is a staking version of Quick (QuickSwap's governance token) that generates revenue from every swap conducted through QuickSwap, with a historical return of between 20-40%.

Thanks to the passing of the CIP011 (Matryoshka Principle), the treasury will have a substantial amount of voting power in Mai.Finance (QiDAO). This positions us well to help Polygon win the "Qi Wars", but may also help boost Treasury yields.

The Proposal The Proposal is split into two parts.

First Leaning into the Matryosha Principle, a bond is created for Quick, accumulating QuickSwap governance tokens in the treasury.

Second (the complicated part)

  1. Bonded Quick will be staked into the Dragon's Lair to receive dQUICK
  2. This dQUICK will be combined with any dQUICK accrued by the protocol
  3. The combined dQUICK will be placed into Mai.Finance dQUICK vaults
  4. eQi will be used to incentivize dQUICK vaults
  5. Borrow MAI against dQUICK
  6. Take borrowed MAI and place into MAI/USDC LP to earn more Qi
  7. Rinse & Repeat

Visual explanation thanks to Dr Zaius: https://cdn.discordapp.com/attachments/944056537742192680/944078377407623198/unknown.png

Off-Chain Vote

For
9.63K 100%
Against
0 0%
Abstain
0 0%
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Timeline

Feb 21, 2022Proposal created
Feb 21, 2022Proposal vote started
Feb 22, 2022Proposal vote ended
Oct 26, 2023Proposal updated