CIP028 - Convert TetuQi in Treasury to Qi and Lock for 4 Years
We have about 100k TetuQi (about $22k) in our treasury, autocompounding on itself at a rate of about 30% APY. This asset is sort of a relic from a few months ago, and would be better utilized elsewhere. My proposal is to simply convert it to Qi, and lock in QiDAO for 4 years. Qi is too low right now to sell into another token, and we can get profit sharing in QiDAO (roughly same APY that we're getting now) and 4x governance power (we are currently getting no governance from the TetuQi) from the Qi if we lock it (which would also support CIP027).
It's a simple move that would be more in line with what we are trying to accomplish with the treasury.
As there was another idea proposed in the Discord thread, I am also including that option. Converting half of the TetuQi to Qi, and adding to the TetuQi/Qi LP on Dystopia to earn DYST rewards. Currently that LP has 0.62% of total votes going to it, so it would earn some DYST unless the votes go away at the next gauge vote.
Off-Chain Vote
Loading…
- Author
0x4122…664E
- IPFS#QmbTAqdf
- Voting Systemsingle-choice
- Start DateJun 01, 2022
- End DateJun 02, 2022
- Total Votes Cast8.43K vPEARL
- Total Voters15
Timeline
- Jun 01, 2022Proposal created
- Jun 01, 2022Proposal vote started
- Jun 02, 2022Proposal vote ended
- Oct 26, 2023Proposal updated