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)
- Bonded Quick will be staked into the Dragon's Lair to receive dQUICK
- This dQUICK will be combined with any dQUICK accrued by the protocol
- The combined dQUICK will be placed into Mai.Finance dQUICK vaults
- eQi will be used to incentivize dQUICK vaults
- Borrow MAI against dQUICK
- Take borrowed MAI and place into MAI/USDC LP to earn more Qi
- Rinse & Repeat
Visual explanation thanks to Dr Zaius: https://cdn.discordapp.com/attachments/944056537742192680/944078377407623198/unknown.png
Off-Chain Vote
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- Author
0xfc1F…2ce3
- IPFS#QmZDRFv7
- Voting Systembasic
- Start DateFeb 21, 2022
- End DateFeb 22, 2022
- Total Votes Cast9.63K
- Total Voters31
Timeline
- Feb 21, 2022Proposal created
- Feb 21, 2022Proposal vote started
- Feb 22, 2022Proposal vote ended
- Oct 26, 2023Proposal updated