AIP-79 Transmuter ERC-4626 Yield Strategy by Revest
Status: AIP-79 is up for a snapshot vote until February 16, 2023 at 03:23 UTC
The Alchemix BizGov SubDAO identified a fringe transmuter strategy that can be stabilized and automated with the assistance of Revest Finance. Current use of this strategy creates a base yield on alAssets by purchasing alAssets below 1:1 prices, depositing them to the transmuter, receiving some of the underlying asset, and repeating the process. While this strategy is simple, yields are largely unpredictable due to variable transmuter rates and fluctuating gas prices. Alchemix would enlist the services of Revest to build an ERC-4626 strategy that automatically harvests and compounds transmuter harvests on behalf of depositors. The goal of this proposal is to reduce the incentivization cost/unit of alETH liquidity by making transmuter yield more accessible and predictable. Read the full proposal for additional details on expected vault returns, treasury funding of this effort, and user adoption.
Since the last update…
AIP-80 passed a snapshot vote approving AMO harvests to be evenly split between treasury funding, accruing/locking liquidity directing assets, and ALCX buybacks/bribes.
AIP-81 passed a snapshot vote allocating $25k for the first round of an Alchemix grants program through Gitcoin Grants 2.0!
The Community Token Naming event is over and the people have spoken! The snapshot vote ended with “FLUX” receiving 50.58% of the vote, very narrowly beating “MATERIA” for the new token name in the veALCX structure.