xSUSHI and LP Lock Proposal

For those of us immediately captured by Chef Sushi’s Medium article that laid out plans for SUSHI, consider this an implementation of a part that I think is currently missing.

  1. Liquidity Providers (LP) are rewarded with xSUSHI rather than SUSHI
  2. On the individual pool pages, change “Harvest” to something like “Add to Bar” so that xSUSHI earned through an LP can be sent to the bar
  3. All xSUSHI staked or “in the bar”, cannot be unstaked or “Leave the Bar” for 30 days

With these three parts, we solve the issue of immediate selling by liquidity providers (LP), but still rewarding LP’s for loyalty. Also, locking in xSUSHI for 30 days helps to stabilize the bar and gives us all time to make friends with our fellow barmates!

This is a simple vote, please vote “YES” for all three or “NO” if you don’t like any or all the parts.

Thank you for your time and participation. I can be found on Discord for questions or suggestions. If you vote, no, I’d appreciate feedback.

-LibertyNow

  • Yes
  • No

0 voters

1 Like

I like it, I think LPs would prefer a higher price than having liquidity.

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afaik the new lock-up proposal will basically include this https://snapshot.page/#/sushi/proposal/Qme8MYH2nWR3qcecxnVU5F824VJ2LjeKKr5mNaVdQ7ZfcF

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Let’s see how the implementation of the first proposal will go through. The idea behind is already aimed at releasing the sell pressure.

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I appreciate your comments, but that proposal doesn’t solve anything. It just kicks the can down the road. Why would LP’s stay after the rewards are gone? My proposal offers short term and long term solutions. It is NOT a price pump proposal like the other one.

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Sounds good in general, but I would go with some small modifications.

LPs should be further rewarded in sushi, but have an extra option, besides harvesting sushi, to stake it directly.

There are scenarios where LP’s would rather add liquidity to Sushi/ETH pool or just straight up sell the sushi directly and we shouldn’t make it a hassle for them.

I do agree on the lockdown of 30 days for staked sushi. Or even better (if possible from a technical point of view). Offer users the possibility to lock staked xSushi for a chosen amount of time. The longer you choose to lock, the better a reward multiplier is offered. Something along these lines:

  • if you lock for 15 days - get 1.05x multiplier reward for the whole period
  • lock for 30 days - get 1.1x multiplier
  • lock for 60 days - get 1.15x multiplier
    etc.
3 Likes

Hi @SushiJohnny, was this proposal ever voteable? What were the results?

1 Like