CIP023 - Convert CLAM/MAI LP on Dystopia to CLAM/USD+
Per CIP022, we are moving approximately $50k of CLAM/MAI liquidity from our QuickSwap LP to a new DEX being released by our Polygon Alliance partner - Dystopia. This will bring in DYST liquidity mining rewards starting May 26, which we can decide what to do with in another CIP.
Max+ from Overnight.fi reached out and proposed that we change the MAI in our CLAM/MAI LP on Dystopia to USD+ instead, which is a new interest-bearing USD stablecoin (earning between 6-8% APY currently). This would be yield on top of any revenue brought in by Dystopia. With CLAM paired to a stablecoin that perpetually increases in value, the CLAM portion of the LP will grow with it thanks to the magic of liquidity pair contracts.
It's only a small piece of our LP so it seems like a good chance to try them out without much risk. Dystopia already has USD+/USDC and USD+/MAI pairs, so liquidity should not be an issue if traders use the DEX to buy/sell CLAM with something other than USD+. This is a way to further our treasury reserves and have the treasury accumulate CLAM passively for further price support. If we like what we see, maybe we can talk about converting more of our LP in the future.
What say you?
Off-Chain Vote
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- Author
0x4122…664E
- IPFS#QmTwBnRi
- Voting Systemsingle-choice
- Start DateMay 24, 2022
- End DateMay 25, 2022
- Total Votes Cast7.99K vPEARL
- Total Voters12
Timeline
- May 24, 2022Proposal created
- May 24, 2022Proposal vote started
- May 25, 2022Proposal vote ended
- Oct 26, 2023Proposal updated