PancakeSwap Farm Proposal

Background Currently Stargate has protocol owned liquidity across each of the original seven chains it deployed on. These are Ethereum, Avalanche, Polygon, Fantom, BNB Chain, Optimism and Arbitrum. Each liquidity pair sits in a dex, providing liquidity to trade STG and earning fees from trades.

Proposal Stargate has been approached by PancakeSwap requesting that it move $2m of POL (protocol owned liquidity) to PancakeSwap on Ethereum. In return PancakeSwap will give Stargate an average of a 15% or higher APR, based on $2M TVL, paid in CAKE in emissions for the LP moving to there. The LP will still be used and routed through all aggregators, resulting in the same execution, but an APR higher than what Stargate is getting on the current Curve pools will be paid.

If this pair performs well, Stargate will additionally have the option to migrate additional POL to BNB Chain to add to PancakeSwap to recieve additional emissions as determined by the PancakeSwap team.

The PancakeSwap team will also work to promote Stargate through their ecosystem, onboarding new users to Stargate. This aligns Stargate with a large and engaged community of DeFi users.

Execution $2m of POL will be removed from the Curve LP pool and moved to PancakeSwap on Ethereum. Once moved, emissions for this LP will be enabled by PancakeSwap providing an APR of at least 15% to that pool. If the emissions drop below 10%, Stargate will reserve the right to remove the lp from PancakeSwap and return it to a platform where the APR is highest at that point.

Success If successful this proposal will result in a higher APR paid to Stargate in return for where it holds lp. This will allow Stargate POL to continue to grow more quickly, reducing the need for emissions and building a more robust liquidity layer.