P15 Pause Sponsoring Program

Intro

The sponsoring program was designed to bring stablecoins to fund the fiat on/off-ramp fees for Jarvis synthetic assets users. Aave v1 with its redirection function was a perfect solution at the time. However, with the introduction of Aave v2, fewer people use the v1, which means less volume and lower APR for the treasury.

Proposal

Put the sponsoring program on pause while Senate finds a better alternative protocol/strategy with higher APR.

Reasoning

With the current 2-3% APR on Aave v1, Jarvis treasury pays more in JRT rewards than it receives in interest.

Vote

YES: Pause the current sponsoring program on Wednesday 29.09, until the Senate finds a better alternative.

NO: Keep the program running as is.