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Jarvis NetworkJarvis Networkby0xc31249BA48763dF46388BA5C4E7565d62ed4801C0xc312…801C

Add additional rewards in jFIAT + JRT to the upcoming Harvest Finance vaults

Voting ended over 4 years agoSucceeded

This is an emergency vote as explained in Discord

Harvest Finance will launch 4 vaults very soon:

  • jEUR-USDC
  • jGBP-USDC
  • jCHF-USDC
  • AUR-USDC

Their strategy is different from Beefy though: the AUR harvested by the vaults will only be reinvested in the AUR-USDC one. Since the APR on AUR-USDC is higher, they would get a higher APY than if they were reinvesting in jFIAT pools like Beefy.

On top of this, they will be adding $400 of iFARM and $800 of Matic per week and per vault. This will add 6.2% of APR per vault per $1M deposit.

There are roughly 6 weeks left in the current program, so they are investing $28,800 of rewards in our program. They are not requesting anything from our side, but I would propose to add an extra yield since they are investing in our program and as it can solidity future partnerships:

  • $12k of $JRT (200,000 JRT, 50 000 jrt per vault),
  • $9k of jFIAT ($3k of each jFIAT, for each jFIAT vault).

The jFIAT would be borrowed against UMA. At the end of the farming program, we will sell $9k of UMA to reimburse the loan.

Since Harvest will basically pay farmers in AUR-USDC-LP token, we should participate with the treasury to increase the amount of AUR we receive.

Vote: Yes - we will send 200k JRT + $3k of jEUR + $3k of jGBP + $3k of jCHF to the Harvest team, and we will participate in their vault to increase our AUR-0112 position No - we will not co-invest with Harvest, the program will still be launched, but without added incentives.

Off-Chain Vote

YES
15M 98.1%
NO
296.19K 1.9%
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Timeline

Oct 25, 2021Proposal created
Oct 25, 2021Proposal vote started
Oct 25, 2021Proposal vote ended
Oct 26, 2023Proposal updated