(p5-1) Treasury allocation: what strategy/strategies should we pursue?

As we discussed before, the current APY should not be a priority when choosing a farming strategy, rather the long-term perspective of a token and therefore long-term APY should be considered when making a decision.

After several weeks we have seen several strategies and allocation methods. Now we suggest choosing the strategy/strategies first, and then vote on the funds' allocation (ie how much percent of the overall funds go to the certain strategy)

We want to do such a vote every month, to allocate newly farmed tokens and rebalance the fund.

-Strategy 1 SushiSwap (23% in Sushi + trading fees) Mcap-2,2Bil; FDV-3,6Bil Action: Sell 50% UMA for ETH supply liquidity on SushiSwap Future: stake Sushi for xSushi (5% APY), which could be deposited on Aave and used to borrow assets *2/3 of the rewards are locked for 3months

-Strategy 2 Alpha Homora x1 leverage (38.50%) Action: Sell 50% UMA for ETH and supply ETH/UMA on Alpha Homora (ETH/UMA will be LPed on SushiSwap, Suhsi will be automatically sold for ETH and UMA) Future: treasury will increase its position on UMA and ETH

-Strategy 3 Alpha Homora x1.5 leverage (70.45% incl 16.8% in Alpha token) Mcap-544Mil; FDV-2,1Bil Action: Sell 50% UMA for ETH and supply ETH/UMA on Alpha Homora with x1.5 leverage (ETH/UMA will be LPed on SushiSwap, Suhsi will be automatically sold for ETH and UMA) Future: treasury will increase its position on UMA and ETH + Alpha token can be staked to unlock higher leverage *Liquidity mining program will last till 12th of May

-Strategy 4 Alpha Homora x1.75 leverage (86.29% incl 25.15% in Alpha token) Mcap-544Mil; FDV-2,1Bil Action: Sell 50% UMA for ETH and supply ETH/UMA on Alpha Homora with x1.75 leverage (ETH/UMA will be LPed on SushiSwap, Suhsi will be automatically sold for ETH and UMA) Future: treasury will increase its position on UMA and ETH + Alpha token can be staked to unlock higher leverage *Liquidity mining program will last till 12th of May

-Strategy 5 StakeDAO Passive EUR (70.52% in SDT) Mcap-44-Mil; FDV-567M Action: sell UMA for eurs and seur, deposit on stakeDAO 'strategies', and redeposit on 'LP farming' to maximize returns. Future: SDT tokens can be staked for an additional 29.65% APY + accumulated SDT could be used to participate in StakeDAO governance.

-Strategy 6 Aave DAI, USDT, or USDC (3%-20% + 4%-7% in stAave) Mcap-6,1Bil; FDV-7,7Bil Action: sell UMA for one of the stabecoins and deposit on Aave. Future: stablecoins deposit can be used to borrow other assets and participate in other strategies + accumulated Aave could be used to participate in Aave governance. *Liquidity mining program will last till 15th of July

-Strategy 7 Jarvis Farm (N/A) Mcap-20Mil; FDV-95Mil Action: Sell UMA for USDC and jFiat, participate in Jarvis Farming Future: Treasury can accumulate JRT (do not mix with the JRT for rewards) which could be used to ming jFiat.

-Strategy 9 Alchemix (CRV+EPS) CRV (Mcap-973Mil; FDV-10,9Bil) ESP (Mcap-353Mil; FDV-3,2Bil) Action: Sell UMA for DAI, mint alUSD (50% of the deposit), use alUSD to buy CRV, stake CRV for 4 years. Future: Accumulated CRV could be used to participate in Curve governance. *Alchemix allows us to get the future yield upfront therefore we can risk this money