Summary:
This proposal discusses the implementation of Onlyboost in the Stake DAO’s Liquid Locker strategies, to optimize yield.
Context:
Onlyboost is a new product by Stake DAO that enables depositors in LP strategies to benefit from the highest possible boost factor on Curve by optimally rebalancing their deposit between Stake DAO and Convex, in order to maximize their yield.
Boosting is a key feature of Curve veTokenomics. It incentivizes protocol token lockers by streaming higher emissions towards their deposits than non-lockers’, on top of swap fees.
Onlyboost Whitepaper: https://github.com/StakeDAO/onlyboost-whitepaper/blob/main/ob-whitepaper.pdf
Rationale:
The purpose of this proposal is to request that Stake DAO Curve strategies shift to utilizing OnlyBoost strategies from this point onward.
Onlyboost will not charge additional fees on top of the deposits directed to Convex. The fee system will remain unchanged from the current Stake DAO LP strategies.
Key Points:
- Onlyboost is a fully on-chain autonomous and non-custodial product, as for all Stake DAO Liquid Locker strategies.
- This Implementation will be effective on the current CRV Liquid Locker strategies after voting.
- This implementation will be painless for users and requires no additional interaction from users.
Technical Implementation:
- The Onlyboost Solidity contract has already been written, reviewed and audited, and is ready to be deployed.
Voting options:
- Yes, implement Onlyboost as the main strategy for CRV Liquid Locker
- No, do not implement Onlyboost as the main strategy for CRV Liquid Locker
Proposal specifications:
Admin: veSDT holders
Community feedback: 2 days
Voting duration: 8 days