Just a question about Meowshi. I have been holding some, and in the app, I used to be able to convert it back to Sushi directly. Now, however, I have to convert it to xSushi. Does anyone know why it changed?
Also, in general, is Meowshi still safe? I am not even sure if it’s still earning anything, because it looks as if it hasn’t budged in a while. Is anyone still holding Meowshi or should I just convert back to xSushi? I don’t want to lose it all! Thanks.
Hello, does anyone know if anything is happening with Meowshi at all? I read that the amount of Meowshi tokens you hold does not go up, but that the ratio changes over time? Which is how we are earning? But the ratio looks to me like it’s stayed the same? Does anyone know what’s going on with this? I don’t understand what’s going on with this.
Is it better just to let xSushi sit in your wallet? I want to make sure that holding Meowshi instead of xSushi isn’t actually hurting me.
Hey, sorry for not seeing this sooner.
Meowshi is totally safe although it’s just not really been utilized by anyone. The way it works is it wraps your xSushi into BentoBox so that you can retain voting power, but still have it deposited in for possible passive yield from flashloan utilization.
No one has really been utilizing it though. It has been a few times, so the ratio has gone up very slightly, but with current market conditions and such a large reserve of xSushi available for use in Aave I don’t see their being a lot of inspiration or demand to develop consistent strategies for it at the moment. It is still an option on the table for anyone who could figure something out though.
There’s no harm in still holding it at all if you were intending to hold xSushi anyway.
Thanks for the thorough response! I appreciate it.
To clarify, I am still earning the same rewards I would normally earn for staking? %% of all swap fees proportional to amount staked?
Yeah consider it literally xSushi.