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
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- Author
0x4122…664E
- IPFS#bafkreid
- Voting Systemsingle-choice
- Start DateAug 31, 2022
- End DateSep 02, 2022
- Total Votes Cast122.15K vCLAM
- Total Voters12
Timeline
- Aug 31, 2022Proposal created
- Aug 31, 2022Proposal vote started
- Sep 02, 2022Proposal vote ended
- Oct 26, 2023Proposal updated