Summary:
Deploy a BPT liquid locker and associated strategy with a gauge for the sdBPT/BPT LP on Stake DAO
Context :
Stake DAO is a non-custodial platform built on top of decentralized protocols that enables anyone to easily grow their crypto portfolio. The TVL of the protocol is above 630M$, spread out across chains where the Curve ecosystem is already present. Stake DAO recently released a new feature called the Liquid Lockers that will help accelerate the lock of CRV and other veTokens.
It’s a new feature built for tokens with ve-model allowing users to keep a liquid position while enjoying some yield and the associated voting power (which can both be boosted with veSDT)
Rationale:
Stake DAO propose to create a liquid locker for BPT holders, so users could lock their BPT on a liquid locker and receive sdBPT, enjoying all the voting rights of the veBPT, the Liquid locker yield, while keeping a liquid position.
Then, BlackPool DAO will be able to lock their SDT to vote on sdBPT Liquid locker and sdBPT/BPT strategy gauges to receive SDT rewards. Ideally, BlackPool and Stake DAO should aim for at least 1 million in liquidity on the sdBPT/BPT pool.
Also, BPT holders depositing into liquid lockers will receive sdBPT that can either be staked into a reward contract to receive several sources of yield while keeping the voting power and a liquid position, or deposit them in the associated strategy (sdBPT/BPT LP). Fees on yield would be 5%.
You can find more info on this new product in this medium post: Introducing Liquid Lockers & veSDT | by Stake DAO | Feb, 2022 | Medium
Benefits for Stake DAO:
- Create a long term position on BlackPool
- Ability to vote on BPT gauges with veBPT/sdBPT
- Increase the governance participation and DAO revenues by farming BPT rewards
- Increase the visibility of both projects with cross marketing
Benefits for BlackPool DAO:
- Create a long term position on SD
- Creation of a Liquid Locker and a sdBPT/BPT strategy both eligible for gauges rewards by locking SDT and voting with veSDT
- Once live, BPT holders will be able to boost their voting power on sdBPT with their veSDT
- Increase the visibility of both projects with cross marketing
Technical implementation: deploy the LL, the associated strategy and the gauge related to the strategy.
Voting options:
- Yes, create BPT Liquid Locker
- No, don’t create Yes, create
- Abstain
0 voters