YIP: YDS - Provide liquidity on wBTC/ETH to farm Sushi rewards.
Purchase of wBTC was recently passed via forum proposal here:
There is still UI development and testing needed to get YDS production ready. In the mean while there are underutilized assets in the treasury.
This proposal would use the ETH and wBTC in the treasury to provide liquidity on Sushiswap ETH/wBTC pair and then stake LP tokens to farm Sushi.
YDS’s (Yam Dao Set) goal is to utilize and grow treasury assets. Only a % of the treasury will be invested into the YDS, to be determined when YDS has been tested and production ready.
While we develop YDS it makes sense to utilize the assets inside the treasury to improve yield. Sushiswap currently offers best yield for ETH/wBTC @ 23.07% APY (2/3 of that is vested over 6 months per sushiswap.fi) as of 12/17/2020
Gaining additional yield on an well known and audited platform like sushiswap is relatively low risk and adds yield.
There would need to be an on-chain vote to implement. Snapshot to start relatively shortly if there are no comments and poll shows 90%+ approval.
Poll to Measure Sentiment
Yes, Pair wBTC and ETH to farm Sushi
No do not Pair and Farm Sushi
- Yes, Pair wBTC and ETH to farm Sushi
- No do not Pair and Farm Sushi