YIP Proposal: Move treasury purchases from Uniswap to Sushiswap
During positive rebases, the YAM treasury mints YAM and sells it into a liquidity pool in order to gain funds for the treasury. Currently, this is done on the YAM/yUSD Uniswap pool. We should instead use the Sushiswap ETH/YAM pool for this action.
The YAM rebaser contract (0x1fB361f274f316d383B94D761832AB68099A7B00) mints to and then swaps in the current Uniswap yUSD/YAM pool (0xb93cc05334093c6b3b8bfd29933bb8d5c031cabc). It should instead do this for the Sushiswap ETH/YAM pool at 0x0f82e57804d0b1f6fab2370a43dcfad3c7cb239c.
Recently, incentives for the Uniswap yUSD/YAM pool were turned off and a lot of liquidity has exited. On top of that, Sushiswap is adding an incentivized YAM/ETH pool today, where I would assume a lot of liquidity will flow. This should be the pool used for the treasury instead of the YAM/yUSD uniswap pool. The reason being, the larger the pool, the most funds that will be added to the treasury. We should make sure this is always occuring on the largest pool.
Update the Rebaser and Reserves contract.
Poll to Measure Sentiment
- Keep Uniswap (yUSD/YAM) pool for treasury sales
- Move to Sushiswap (ETH/YAM) for treasury sales
- Other (comment below)