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OtterClamOtterClamby0x41222a33d9B40173118BD8B80114a9ce3617664E0x4122…664E

CIP044 - Exit MATIC/DYST LP

Voting ended over 3 years agoSucceeded

We were contributing to the WMATIC/DYST LP originally because it was something like 800% APR and a good source of DYST, and then PEN. With reduced inflation and cratering prices, it's now just above 100%. I'm not sure it serves much purpose.

With most of us expecting MATIC to begin falling as well, would it make sense to decouple the MATIC from the DYST? I propose that we buy penDYST with the DYST portion on Dystopia (since the peg is still about 11-12% favorable for doing so), and stake it. penDYST staking is over 200% and would be the same or greater yield in the same reward tokens as we are currently getting (not even counting the favorable pegging situation, which would add 11-12% as well).

We could then do with the MATIC whatever we wanted, and not lose any yield. There are several options that will be votable in this snapshot since a consensus can't be reached in Discord:

1.) Convert the MATIC to stablecoins and deposit in one of our LPs - anywhere from 5-10% APR 2.) Convert to the stMATIC/MAI LP on QiDAO (after 9/16, all of this liquidity will be moved elsewhere) - Highest yield at around 85% APR 3.) Convert to stMATIC/USD+ LP on Penrose - about 50% APR

Off-Chain Vote

Stables
86.96K vCLAM71.2%
stMATIC/MAI
31.98K vCLAM26.2%
stMATIC/USD+
3.21K vCLAM2.6%
Leave as WMATIC/DYST
0 vCLAM0%
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Timeline

Aug 31, 2022Proposal created
Aug 31, 2022Proposal vote started
Sep 02, 2022Proposal vote ended
Oct 26, 2023Proposal updated