SIP-64: Closing Old Demeter Farms

Author(s): Sperax Core Team Reference: Demeter 2.0, LTIPP, Incentives Created: June 20th, 2024

Summary

The proposal aims to close down old Demeter farms.

Motivation

The old Demeter farms or Demeter 1.0 farms managed by the Sperax team should be closed down because

1. Demeter 2.0 farms have better rewards
2. Users can switch liquidity without having to go with the cooldown period

Overview

Sperax currently manages 5 farms on Demeter 1st version which are mentioned below.

Farm	Address
USDC/USDs Uniswap v3	0xF6EE4989D8e6B7C316E10cCe7A3e6D596f3A5F3C
USDs/USDC.e Uniswap v3	0x17EbdD5Eae0c56d251BF617536643916EA2F4c7b
USDs/USDC.e Camelot	0x4073D8479D67851Ae90332d6600d6BF1211703ee
SPA/USDs Camelot	0x50f37e7d81f6d24e1ee9fb252dbbc337f54438e6
SPA/USDs Uniswap v3	0xeBc45B3b23A3Bae76270A51f7196e55Cba843CAB

The farm rewards are governed through SIP-58. We propose to close the SPA/USDs Camelot and SPA/USDs Uniswap v3 farms right away and close the other 3 farms by the 10th of September. The reward rates will be as per SIP-58 until all farms are closed

Technical Specifications

1. Close SPA/USDs Camelot and SPA/USDs Uniswap v3 right away
2. Close USDC/USDs Uniswap v3, USDs/USDC.e Uniswap v3 and USDs/USDC.e Camelot by September 10th

Voting

For: Approve SIP-64 Against: Reject SIP-64