TIP-002: Treasury Strategy Update

Summary

This proposal, if passed, would update our current treasury strategy to take more advantage of the BEETS "voting incentives" and rewards.

Why Update our Treasury Strategy?

The vast majority of our treasury is allocated to the Steady Beets pool. Steady Beets pays roughly 2%. We are taking these BEETS and compounding them into more exposure in the Steady Beets pool. This strategy is very low risk, but is not maximizing our gains.

In short, we can update our strategy with minimal risk

Updated Strategy Proposal

1. We move 50% of the current pool into Steady Beets, Yearn Boosted. As it pays 14.69% on the same assets as Steady Beets. We will take the rewards from this pool into #2, below...

2. We take 25% of the current pool into Fidelio-Duetto (BEETS-FTM). We compound this each day. We also use the staked fBEETS to vote for the "voting incentive" proposals with NFT rewards, or high rewards to votes ratios.

For the upcoming snapshot, this would be:

-- The Vaults of Lonely Mountain (5 NFTS) -- Spooky Melodies (3 NFTS) -- The Coral Symphony (Beluga)

We will sell any rewards we get to add to #3, below...

3. We take 25% of the Steady Beets into whichever pool wins the largest share of the vote each week. For this upcoming period (February 21 and February 28, 2022) we would identify the lead vote-getter and allocate rewards from this pool to our Fiedlio-Duetto pool (#1 above).

If this goes into effect, our exposure in BEETS will be:

-- 50% Steady Beets, Yearn Boosted (Earns 14%+) -- 25% Fidelio Duetto (Earns 89%+) -- 25% Top Boosted pool (Earns 400%+)