Snowcat DAO x Sushi Mutual Pooling Proposal

Summary

• Snowcat DAO (https://snowcat.dog) is an AVAX C-Chain project conceived to provide an exciting short-term financial game securely and fairly
• Supply expansion is allowed for only 8 days, and on day 9, 80% of the treasury besides LP tokens will be used for buybacks
• Custom functions (battle tested in the team’s previous short-term DAO, https://minipanther.money) conduct buybacks taking only a percentage as input; admins have no treasury withdraw function
• There will be a giveaway to wallets that staked in Snowdog DAO
• Emissions begin 3-25
• Snowcat DAO would appreciate the opportunity to have mutual pools with SushiSwap
• Stake wxSCAT → earn SUSHI and stake xSUSHI → earn SCAT pools would benefit both projects’ holders

Abstract

Many people found the short-term structuring and massive buyback promise of Snowdog DAO exhilirating, but were disappointed when the buybacks did not occur as promised. The team at Snowcat DAO has come up with a solution: custom functions that take matters out of the hands of humans. The admin treasury withdraw function is completely disabled, and the buyback functions take only a percentage as input.

The solution has been battle tested in the team’s previous short-term DAO, MiniPanther. Additions for Snowcat DAO include antibot and referral code. The extremely trustworthy team has released 6 previous projects: PolyWantsACracker, Stadium Arcadium, Darkside Finance, and Stone Temple Binance (yield farms) and Minotaur Money and MiniPanther (DAOs). They have also released three previous Dapps that did not have their own tokens.

This mutual pooling proposal differs from most: We propose a single pool to stake the wrapped staked token (wxSCAT) and earn SUSHI, and a token to stake xSUSHI and earn SCAT. This could provide users with a “loop” that provides them with a place to stake all earned rewards, similar to the Minotaur Money staking agreement with MMF and the MiniPanther staking agreement with Dark Knight.

Motivation

The team is motivated to provide a safe, secure way for a short-term DAO to self-liquidate by conducting massive buybacks. Even though we were not the team behind Snowdog DAO, we are providing a giveaway to Snowdog DAO stakers. Our participants had a good enough time with MiniPanther that they wanted to see another short-term DAO, so we feel that the short-term DAO concept has enduring appeal.

We will also continue to operate after the buyback period as the meme token of the AVAX network. As a meme token, the DAO will still own DAO tokens and be able to release ancillary products and services. The team plans several additional upcoming releases, and if released on AVAX, they will be tied in with Snowcat DAO.

Specification

We propose two staking pools on the sushi.com AVAX app:

  • Stake wxSCAT à earn SUSHI
  • Stake xSUSHI à earn SCAT

These pools would benefit both projects’ holders in the following ways:

  • For SCAT holders, it would create the following cycle: stake SCAT → wrap xSCAT → stake wxSCAT on Sushi → stake Sushi → stake xSUSHI to receive SCAT
  • For Sushi holders, it would provide additional staking benefits
  • The Sushiswap DAO could receive an addiitonal service fee or any other benefits it wishes to derive from the deal
  • Part of the profits from running Snowcat DAO will go towards charitable contribution

Conclusion

We hope that Sushiswap is willing to work with community projects that are trying to make a positive difference by providing secure methods to implement popular protocol designs. The Snowcat DAO team is willing to accommodate any reasonable mutual pooling deal with SushiSwap. Thank you for your time and consideration.

For
Create mutual pools with Snowcat DAO

Against
Do Nothing

6 Likes

This is a great project, created and supported by a smart and trustworthy group of devs, engineers, mods, and artists. I fully support this proposal. They have a proven track record of creating and deploying sustainable, well-functioning projects.

1 Like

I have been involved in so many “other” failed, however I can tell you from personal experience the team at SnowCat are amazing. I have been involved in several of the Defi/DAO projects over the last year and they are super trustworthy and their project is something that you would like to be a part of your ecosystem.

1 Like

With these devs, MiniPanther DAO and the previous staking partnership was a success. I look forward to grabbing this opportunity. I vote for!

1 Like

Can definitely vouch for the project and the team. Successfully ran a few projects similar to these.

1 Like

Always developing or trying something new! Love every project so far!! This one will not disappoint. I can rest easy! Thanks again to Kurt and the team!

Sense a bit a french here. Moi aussi.

First, welcome to the forums. While I am sure there is a passionate community, I am not fully convinced of the value of incentivizing these pools via Sushi.

Expecting a lot of comments like the ones above - new users, posting for the first time, and offering enthusiastic support.

Hi! It is true that we have brought in many people to hopefully experience Sushi governance for the first time. Maybe one of the possible benefits to Sushi would be the introduction of many possibly helpful future DAO members!

I’m so excited for this 8 day DAO idea to be done correctly and having mutual pools with Sushi would be awesome!!!

1 Like