CIP048 - Participate in CASH Stablecoin and Satin DEX
Stabl.Fi is launching a ve(3,3) DEX called Satin at the beginning of 2023.
Unlike other ve(3,3) DEXes, governance power is given by locking Satin's native LP token, SATIN/CASH, instead of a single DEX token. This should be a major upgrade over other DEXes as the deep liquidity will give satin some price resilience as opposed to tokens like DYST.
Additionally, pairing CLAM with Stabl's CASH yield bearing stablecoin has since unique features:
- 80% of rebase is added as a claimable reward in the LP, similar to Satin liquidity mining rewards.
- 15% of rebase is added to the LP as an autobribe, similar to how Velodrome handles USD+.
- 5% is sent back to the CASH farming treasury to increase the capital efficiency of each CASH token.
I think this could be a great place to at least park our clam LP that is doing almost nothing for us currently ($94K of CLAM/MAI on Quickswap), to be paired with a yield bearing token (whose rebases we can claim as rewards) and receive governance emissions on top of that. We know how these DEXes go; there's usually a major pump phase where we could see a lot of value for our stakers and for the protocol.
There is also 9,600 CLAM in the treasury sitting idle. This could also be paired with CASH from some of our stable reserves, if we wanted to. This would put the total LP at around $140k of CLAM/CASH.
Off-Chain Vote
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- Author
0x4122…664E
- IPFS#bafkreif
- Voting Systemsingle-choice
- Start DateDec 27, 2022
- End DateDec 30, 2022
- Total Votes Cast145.52K vCLAM
- Total Voters8
Timeline
- Dec 27, 2022Proposal created
- Dec 27, 2022Proposal vote started
- Dec 30, 2022Proposal vote ended
- Oct 26, 2023Proposal updated