CIP032 - Convert MAI/CLAM LP on QuickSwap to USD+/CLAM on Dystopia
As some of you know, I've been pushing to get more CLAM paired up with USD+ to grow our LPs passively for deeper liquidity, and passively take CLAM off the market.
Currently, our MAI/CLAM LP on Quickswap is doing very little for the treasury. It is, however, the only means by which someone can buy/sell CLAM without major price impacts. Pairing our CLAM LP to USD+ is a net positive, as the USD+ yield will grow the LP independent of any trading fees. In addition, moving our entire LP to Dystopia (and after voting for the new CLAM/USD+ pair) would give us most of the % share of our pair, meaning we would be able to claim the majority of the rewards (at the moment, about 35% of the rewards are going to other liquidity providers on the CLAM/MAI pair).
This way, we get the passive benefits of USD+, while getting even more Penrose rewards. We can vote for the MAI/USDC pair with our vQi on the QiDAO gauge votes, and maybe use it to pick up some bribes in the future!
Up until now, Dystopia's swap routing left much to be desired, but that appears to have been resolved. We should no longer have any issues making this change.
Off-Chain Vote
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- Author
0x4122…664E
- IPFS#QmPURrgc
- Voting Systemsingle-choice
- Start DateJun 24, 2022
- End DateJun 25, 2022
- Total Votes Cast8.43K vPEARL
- Total Voters10
Timeline
- Jun 24, 2022Proposal created
- Jun 24, 2022Proposal vote started
- Jun 25, 2022Proposal vote ended
- Oct 26, 2023Proposal updated