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Stake DAO ANGLEStake DAO ANGLEby0xb36a0671B3D49587236d7833B01E79798175875f0xb36a…875f

Migrate incentives on Polygon from Quickswap to Uniswap V3

Voting ended almost 4 years agoFailed

TL;DR

This is a proposal to:

  • migrate incentives given on Quickswap to the agEUR-USDC LPs to G-UNI agEUR-USDC 1bp LPs
  • keep the gauge votes for the Quickswap agEUR-USDC LPs and direct the associated ANGLE emissions to G-UNI agEUR-USDC 1bp LPs

Context

0.01% have just been adopted by Uniswap. Having agEUR exchangeable for very low fees crucially facilitates on-ramping and off-ramping. It also places agEUR as the center of DeFi making it one of the core "router" tokens.

The experiment conducted on Polygon with a 0.05% agEUR-USDC pool showed to be super successful.

Gelato/Arrakis is a wrapper on top of UniV3 positions. It has a liquidity mining program going on with Uniswap (under the form of MATIC tokens). Besides, with the recent LM 2.0 program that has been announced by Polygon, incentives for protocols on Polygon, rewards for LPs on Gelato could even further be increased.

Proposal

Cf what is above: the proposal is that the incentives which are voted by veANGLE holders on the GaugeController contract for the Quickswap agEUR-USDC pair are directed to G-UNI agEUR-USDC (1bp) stakers.

Implementation

The idea is to use a Gelato staking contract for this so that not only ANGLE rewards accrue to this contract but also MATIC and potentially SPICE rewards (their upcoming token). They use Angle LiquidityGaugeV4 implementation.

Given that this migration is expected to take place on Polygon, there will not be much transaction fees for agEUR and USDC LPs to perform this transition.

Vote Options

  1. For, migrate incentives
  2. Against, do nothing

Off-Chain Vote

For, migrate incentives
0 sdANGLE0%
Against, do nothing
0 sdANGLE0%
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Timeline

Apr 13, 2022Proposal created
Apr 13, 2022Proposal vote started
Apr 15, 2022Proposal vote ended
Oct 26, 2023Proposal updated