SIP #17 - Optimize Ethereum and Optimism POL

Issue Statement

Deploy the remainder of Stargate’s POL on Optimism to an STG/bb-rf-aUSDC 50/50 weighted pool on BeethovenX & Diversify mainnet POL.

Motivation

We propose that Stargate pairs STG with bb-rf-aUSDC since we understand a USDC pairing is preferred. bb-rf-aUSDC stands for “Beets Reaper Aave Boosted USDC”. Reaper has deployed a non-upgradable single strategy vault that only farms Aave.

On mainnet half of the current Curve pool would be deployed on Balancer with an 3x increase in swapping fee at 1% & start incentives with the same mandate on Aura as Convex.

Create another pool on Curve with a FRAXBP to make incentive more efficient.

Success

Success is determined by generating more revenues to the DAO

Execution

Have the multisig execute various txs to deploy PoL across all networks.

• We make the pool, which can happen now.
• Stargate migrates their POL
• We collect Optimism fees monthly. After fees on STG/bb-rf-aUSDC are collected, 25% will be paired 1:1 with OP from our grant and returned via LM or bribing depending on which ROI is higher.
• Stargate farms & chills

Time & Costs

Between 1h to 2h

Summary

Stargate deploy part of the PoL on Beethoven X - Curve - Balancer