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This proposal is to put $2 million USDC from the treasury in the USDC-USDT pool.
Motivation
There have been quite some discussions on how the treasury can be put to use in the best way, where the DAO can participate in the Saber wars via the USDC-USDT pool and some starting amount of locked SBR. However, due to a lot of manual things required (like weekly voting by the council members) the discussion stalled a bit. However, the first step (putting USDC in the LP) is still very valuable for the DAO, even without voting.
The USDC-USDT pool regularly achieves over 60% APY and it makes sense for the DAO to capitalise on it.
Actions
Swap $1M USDC to USDT (this is better to do via eg Jup, so other liquidity sources can be used too, instead of directly putting all USDC in the pool making it super unbalanced)
Put $1M USDC and 1M USDT in the USDC-USDT pool
Stake the LP tokens
The text was updated successfully, but these errors were encountered:
Summary
This proposal is to put $2 million USDC from the treasury in the USDC-USDT pool.
Motivation
There have been quite some discussions on how the treasury can be put to use in the best way, where the DAO can participate in the Saber wars via the USDC-USDT pool and some starting amount of locked SBR. However, due to a lot of manual things required (like weekly voting by the council members) the discussion stalled a bit. However, the first step (putting USDC in the LP) is still very valuable for the DAO, even without voting.
The USDC-USDT pool regularly achieves over 60% APY and it makes sense for the DAO to capitalise on it.
Actions
The text was updated successfully, but these errors were encountered: