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Stargate DAOStargate DAOby0xE2D48F03082deeF8eb557B00a54aC9fc38Aa47090xE2D4…4709

SIP #14 - Diversify STG/USDC LP Position

Voting ended over 3 years agoSucceeded

Diversify Stargate POL LP position into 2 additional providers Yearn & StakeDAO.

This will result in the protocol owning less LP into the vanilla Curve which can leverage boost from Paladin Finance resulting in the DAO able to almost double our reward rate. Whenever one entity hold over 60% of a pool in curve it becomes practically impossible to reach the higher tier of the boost.

The Yearn position will be selling the rewards into LP position resulting in direct buy pressure, while the StakeDAO position will keep generating CRV + SDT.

SDT can then be locked into their veSDT implementation to capture stablecoins and orient more rewards to our own Curve position (similar playbook as Convex).

Off-Chain Vote

Yes - Let's diversify
7.13M veSTG98.4%
No - Keep current strategy
27.65K veSTG0.4%
Abstain - IDK
85.7K veSTG1.2%
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Discussion

Stargate DAOSIP #14 - Diversify STG/USDC LP Position

Timeline

Jul 08, 2022Proposal created
Jul 08, 2022Proposal vote started
Jul 11, 2022Proposal vote ended
Oct 26, 2023Proposal updated