SDIR #17: Create BPT Liquid Locker on Stake DAO

Summary:

Deploy a BPT liquid locker and associated strategy with a gauge for the sdBPT/BPT LP on Stake DAO

Context :

Stake DAO is a non-custodial platform built on top of decentralized protocols that enables anyone to easily grow their crypto portfolio. The TVL of the protocol is above 630M$, spread out across chains where the Curve ecosystem is already present. Stake DAO recently released a new feature called the Liquid Lockers that will help accelerate the lock of CRV and other veTokens.

It’s a new feature built for tokens with ve-model allowing users to keep a liquid position while enjoying some yield and the associated voting power (which can both be boosted with veSDT)

Rationale:

Stake DAO propose to create a liquid locker for BPT holders, so users could lock their BPT on a liquid locker and receive sdBPT, enjoying all the voting rights of the veBPT, the Liquid locker yield, while keeping a liquid position.

Then, BlackPool DAO will be able to lock their SDT to vote on sdBPT Liquid locker and sdBPT/BPT strategy gauges to receive SDT rewards. Ideally, BlackPool and Stake DAO should aim for at least 1 million in liquidity on the sdBPT/BPT pool.

Also, BPT holders depositing into liquid lockers will receive sdBPT that can either be staked into a reward contract to receive several sources of yield while keeping the voting power and a liquid position, or deposit them in the associated strategy (sdBPT/BPT LP). Fees on yield would be 5%. You can find more info on this new product in this medium post: Introducing Liquid Lockers & veSDT | by Stake DAO | Feb, 2022 | Medium

Benefits for Stake DAO:

• Create a long term position on BlackPool
• Ability to vote on BPT gauges with veBPT/sdBPT
• Increase the governance participation and DAO revenues by farming BPT rewards
• Increase the visibility of both projects with cross marketing

Benefits for BlackPool DAO:

• Create a long term position on SD
• Creation of a Liquid Locker and a sdBPT/BPT strategy both eligible for gauges rewards by locking SDT and voting with veSDT
• Once live, BPT holders will be able to boost their voting power on sdBPT with their veSDT
• Increase the visibility of both projects with cross marketing

Technical implementation: deploy the LL, the associated strategy and the gauge related to the strategy.