p38 PLAAS 2cad

I propose to start building liquidity for jCAD on Polygon, with the 2cad pool (jCAD+CADC).

CADC is already liquid so there should not be a lot of imbalance in the pool. CADC has a 1:1 fiat on and off-ramp (by https://paytrie.com).

It would allow addressing a new market and enrich our Forex offering through Curve + we have a fiat on and off-ramp in Canada with Mt Pelerin.

The proposal is similar to p24 (2pjy)

Pool:

• Targeted liquidity: $1M in the pool
• Targeted APR: 30%
• Duration: 2 months
• Rewards: $50k ($35k JRT + $15k UMA)

New reward token: Quinarius

• Ticker: QUI-MAR22
• Targeted liquidity: $100k
• Target APR: 100%
• Duration: 2 months
• Rewards: $17k ($12k JRT + $5K UMA)
• Value token: $770

65 QUI-MAR22 will be distributed to 2cad LPs on Curve and 34 to the QUI-MAR22-2cad LPs on Kyber.

Jarvis LP will add $40k to its $20k deposit, so we need $40k more from the treasury. The protocol will become co-LP in the jCAD pool. We can sell $40k of UMA to finance it.

This is the first step. When Curve will be ready with their gauge on Polygon, we can increase the rewards for the next QUI program to attract at least $3M of liquidity

So altogether:

• Rewards needed: $77k ($42k JRT + $20k UMA)
• jCAD liquidity needed: $40k (from selling UMA)
• QUI-MAR22-2cad liquidity needed to bootstrap liquidity: $770 of 2CAD

If YES wins, the treasury will sell $40k of UMA for USDC and deposit them into the jCAD liquidity pool; it will deposit $42k of JRT and $20k of UMA in a new storage contract. It will use ~770 USDC to purchase jCAD and CADC to bootstrap the QUI-MAR22-2cad liquidity pool on Kyber, and it will receive 1 QUI-MAR22.