Stake Plutus' treasury-held xGrail

Overview

Plutus holds around 262 xGrail sitting idle in 0x58850bebbffcdcbb24f246646d0e8b6b7aefb529. Camelot offers three options for xGrail utilization:

1. Dividends Earn real yield from protocol earnings by staking xGrail
2. Yield booster Boost staking by up to +100% by adding xGRAIL to any eligible position
3. Launchpad Get perks and benefits from every project on Camelot's launchpad by staking xGRAIL

Given Camelot's current focus on Orbit chains and v3, Launchpad projects have become infrequent and less enticing. This proposal focuses on whether to use our xGrail to earn dividends or boost yield on some of Plutus' positions on Camelot.

This proposal is focused on whether to use our xGrail to earn dividends or boost yield on some of Plutus' positions on Camelot.

More details on the xGrail tokenomics can be read in the xGrail section of the Camelot docs.

Option 1: Stake xGrail in the Dividends plugin to earn a stable 20-25% APY

Camelot maintains their real yield diligently. They ensure a stable return on Grail by buffering protocol fees and distribute them at a long term sustainable pace.

The yield pays out in ETC-USDC positions, xGRAIL and DMT. Exposure to Orbit chain yield, like the DMT, is expected to increase. Dividends run in weekly epochs and more information can be obtained on the xGrail section of the Camelot app or in the xGrail dividends plugin section of the docs

Initially the xGrail yield will be compounded into the position, the yielded DMT and ETH-USDC positions would be split between bPLS and the treasury. When plsGrail is launched, we can distribute part of the yield to plsGrail stakers and LPs as incentives in a three-way-split between plsGrail, bPLS and protocol treasury.

Option 2: Stake xGrail in the Yield booster plugin to boost yield on LPs

If this option is chosen a separate proposal will be set up to decide on chosen liquidity pool migration to the wallet holding the untransferrable xGrail.

If some of Plutus' spNFTs can maintain a $25k annual in farming emissions (Grail + xGrail only), this option supersedes the dividends. The largest spNFT currently is the PLS-ETH pool on Multi Sig 1, 0xa5c1c5a67ba16430547fea9d608ef81119be1876

Option 3: Abstain

If neither option suits you, abstain from voting and we will create a better proposal to align with the majority if this option is chosen.

Conclusion

With the xGrail currently idle, it is beneficial to stake it in a plugin to make it productive.

We have consulted with the Camelot team, who have not objected to our plans.

Where does the yield come from?

Camelot pays 22.5% of their protocol earnings to the staked xGrail holders.

For more info visit the Camelot docs

Proposal

Stake Protocol-held xGrail in 0x58850bebbffcdcbb24f246646d0e8b6b7aefb529 in:

1. Dividends
2. Yield booster
3. Abstain

To protect the treasury and maintain a dynamic response to market conditions or contract security issues, the Plutus core team and multisig members reserve the rights to withdraw at their discretion any or all funds from contracts approved by Plutus DAO for productive treasury allocation. Any withdrawals or alterations made by the team and multisig members will be made with a preference for in-kind withdrawal, and will be announced and reported with reasons.