SIP-04 Modification of SIP-03

This is a modification of the SIP-03, if this Proposal is approved, it will implemented instead of SIP-03.

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SakeSwap Yield Farming will end soon. The Phase II Trade Mining is planned to launch officially after the Yield Framing. We released SAKE-ETH S token Trade Mining as an attempt. In view of the current incentive model for the contribution of trading volume, trade mining needs more time to be fully accepted and understood by the market. SakeSwap Liquidity providers can get a much higher APY of transaction fee/liquidity with our slippage capture. So we propose to start the Phase II Yield Farming.

The details are as follows:

1. The allocPoints of yield farming pools will be set with an integrated weight of TVL and contributed trading volume.
2. To avoid extra dumping pressure, the first sake harvest will be activated in 1 month. The interval between two harvests needs to be more than 1 month.
3. Phase II will last for 6 months. If a farmer withdraws LP before the end of Phase II Yield Farming, 5% of his LP will be deducted as withdrawal fee. 80% of the withdrawal fee will be equally shared with existing farmers whose LP are still in the pool. And the 20% left will be converted back to SAKE and distributed to the SakeBar.
4. 5 SAKE per block and 1M SAKE from SakeLock will be distributed to farmers every month.

The vote is :

• YES. It’s a good move for SakeSwap.
• NO. I don’t think so.

If there are more positive votes than negative ones, the proposal will be implemented.