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Synapse ProtocolSynapse Protocolby0x0AF91FA049A7e1894F480bFE5bBa20142C6c29a9aureliusbtc.lens

[SIP-07]: Joining Fei's Liquidity as a Service

Voting ended over 4 years agoSucceeded

Context: https://forum.synapseprotocol.com/d/9-sip-07-joining-fei-ondos-liquidity-as-a-service-laas-program/

Summary

  • Synapse enters a partnership with Fei Protocol and Ondo Finance to create lower cost & higher capital efficiency for $SYN liquidity
  • Fei DAO to provide $12.5M FEI, at a rate of fixed 5% APR, to be paired with $12.5M SYN to LP SYN/FEI on UniswapV2 totaling $25M in SYN/FEI liquidity.
  • Significantly cheaper cost than incentivizing LPs, alongside Synapse earning trading fees, in exchange for IL risk taken on by the Synapse DAO
  • $TRIBE incentives from Fei DAO over the next 3 months
  • SYN incentives towards SYN/ETH LPs will be reduced, and redirected to Synapse's program with OHM Pro to build protocol-owned liquidity

Off-Chain Vote

Participate in Fei LaaS
9.09M 100%
Do not participate in Fei LaaS
784.05 0%
Download mobile app to vote

Timeline

Nov 23, 2021Proposal created
Nov 23, 2021Proposal vote started
Nov 26, 2021Proposal vote ended
Oct 26, 2023Proposal updated