Currently xSUSHI holders are rewarded with SUSHI.
(Sushibar best way to see everything concerning xSUSHI from community member BoringCrypto arigato ser)
This is good with a caveat this incentives people to sell their SUSHIs earned to lock in profits…
Sushi is now hard capped and I believe personally it isn’t a good reward mechanism.
I propose that we make some changes to the way fees are accumulated and rewarded.
Here is the simple version
Apply only to the 0.05% part no changes to the 0.25% fee.
For every fees taken in SUSHI by LP pools reward them directly to xSUSHI (no change)
For every fees taken in another ERC20 market sell into yUSD (yield accruing stablecoin) or DAI.
New output for xSUSHI = SUSHI + yUSD profits
(APR at the time of writing is currently at 52% + yUSD APY on top for your stable part )
We would need to make change to the Smart Contract.
Ideally incentives a pool of yUSD in the ecosystem so we can have easy access to it.
(ETH/yUSD or yETH/yUSD + ETH/yETH, yUSD/SUSHI)
Let’s discuss !
- I like Wasabi ser
- No Wasabi
- yyCRV (yUSD)