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SharedStakeSharedStakeby0x610c92c70Eb55dFeAFe8970513D13771Da79f2e0chimeradefi.eth

SIP-31 Unlock Sushi SLP based veSGT by dropping early withdrawal penalty

Voting ended over 2 years agoSucceeded

Currently the veSGT token is minted from sushi LP.
Most liquidity has migrated to univ3. Bunni.pro also has rewards for univ3 concentrated liquidity for SGT-ETH. We havent been able to get rewards from sushi. And rewards for veSGT have been disabled.

This proposal seeks to set the penalty on early withdraw on the veSGT token to 0 to allow veSGT lockers to exit for free.

Goal:

  • Let liquidity flow to more efficient pools such as univ3
  • Deprecate a component that didn't see much user activity
  • Allow us to upgrade to a different veSGT mechanism

Technical:

  • From multisig at 0xeBc37F4c20C7F8336E81fB3aDf82f6372BEf777E
  • Call 0x21b555305e9d65c8b8ae232e60fd806edc9c5d78 setEarlyWithdrawalPenaltyRate(0)
  • Ask any remaining lockers to withdraw

Off-Chain Vote

yes
13.53M veSGT100%
no
0 veSGT0%
Quorum:27051710%
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Timeline

May 25, 2023Proposal created
May 25, 2023Proposal vote started
May 30, 2023Proposal vote ended
Oct 26, 2023Proposal updated