AIP-60 ALCX Resonate Treasury Deployment
Status: AIP-60 is up for a snapshot vote until August 26, 2022 at 18:00 UTC
AIP-60 focuses on reducing Alchemix’s emissions and diversifying the treasury via a “synthetic swap” using Resonate, a yield futures protocol developed by Revest Finance. Resonate allows the principal and interest components of a position to be separated and traded. The interest portion of the position could be sold, giving up future interest for a lump sum of assets today. This proposal focuses on the ALCX/ETH SLP, and would allow the treasury to deploy 5,000 ALCX to the Resonate pools, offering users a lump sum of ALCX in exchange for locking ALCX/ETH SLP tokens for 3 months. The SLP tokens would then be deposited in SushiSwap to earn ALCX and SUSHI rewards for the protocol. In essence, the user forfeits the ALCX future yields in return for an upfront yield of 5% paid in ALCX tokens. If approved, the estimated ROI for the protocol would be 50% on idle assets in the treasury. There is much discussion on this proposal, so be sure to check out the details before voting!
Since the last update…
AIP-58 passed a snapshot vote, approving several Gitcoin grant causes, 3 in total! The core team will distribute $50,000 among these causes per the proposal when GR-15 goes live in September.