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Capsule HouseCapsule Houseby0x947Fbe0972737CA3b3fFcBc1fA5c36Cf119E80F1nimothy.eth

Add 5m $ANIME and ~11k in ETH from our treasury to Aerodrome LP + autocompound w/ Beefy Finance

Voting ended almost 2 years agoSucceeded

##OVERVIEW

We've 5m $ANIME available in our community treasury that we can add to the liquidity pool on Aerodrome and earn fees off it paid in $AERO. We can then take the LP tokens and stake it on Beefy Finance which will autocompound by converting the $AERO and buying more $ANIME/WETH. This strategy is currently yielding a pretty decent APY. (~3000% a year, this will go down as more people stake). We'll also need to add around 11k of ETH to the LP to match the 5m $ANIME. We can take out the funds at any time in the future.

This would help earn some extra profit off the 5m $ANIME that is currently sitting idle. Also add greater liquidity to our LP which attracts more volume and efficient trading. And adds more buy volume from the autocompounding.

##TIMELINE To be added immediately. We can remove the liquidity at any time in the future.

##RISKS Risks are impermanent loss if either $ANIME moons or ETH moons but the prices have been pretty stable in range. Or contract risk/hack but Aerodrome/Beefy are well respected platforms on base with a lot of TVL.

##COST/MILESTONES No costs, just small gas fees.

Off-Chain Vote

For
556 CAPSULE98.4%
Against
9 CAPSULE1.6%
Abstain
0 CAPSULE0%
Quorum:113%
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Timeline

Apr 23, 2024Proposal created
Apr 23, 2024Proposal vote started
Apr 28, 2024Proposal vote ended
May 15, 2024Proposal updated