As per Ali’s previous thread, I agree that Sushiswap liquidity mining program has been great. However, I don’t agree that it should utilise DROPIUM. I made a discussion about this a couple weeks ago and the outlook showed that we should keep the rewards as they were. I don’t know where this change is coming from, if you’ve received a lot of requests then a discussion should be formed on it so that the whole community can form their opinion on the topic.
I therefore propose that we do increase the SushiSwap distribution to the same as 1inch program, 50’000 $OPIUM per week however WITHOUT DROPIUM.
Proposal options:
- Distribute 50’000 $OPIUM per week WITHOUT using DROPIUM + migrate SushiSwap liquidity mining program to double farming on SushiSwap Onsen once it’s negotiated
- Utilise the DROPIUM mechanism to distribute 20’000 $OPIUM per week & allow double farming on SushiSwap when available.
Signal here:
https://signal.opium.network/#/opiumprotocol.eth/proposal/QmcfsSkcEdDKYDofkE54gcbTaHWUi1WKdHBuxsyLGP5EEC
Thanks for the proposals and what would be the arguments, what will be achieved?
Hi Andrey,
The point of this proposal is two fold. Firstly, it is a way to expose the really really poor discussions & signalling time frames by the dev team. You can’t just create a discussion, and create signalling for it instantly. Plus only allow 1 day for the signalling. How is this consensus??? You guys need to have a talk between yourselves and work on this. I did exactly what you guys did, and voted on my own proposal and it will most likely pass. Also, the options you guys provided doesn’t include an ‘abstain’ option. For people that don’t want any of those options, they should be able to actively protest. Please look at other projects governance and see how they do it.
Secondly, a lot of people are going to leave the LP once it switches to DROPIUM. Myself included. Having two different options (1inch with DROPIUM, SushiSwap without) is a much better solution. It has worked perfectly fine already, why change it? If people wanted to utilise DROPIUM, they would just go and LP on 1inch. This naturally balances the APY across the pools too.
I put an increase of 50k in reward distribution for two reasons:
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An increase in rewards will bring more volume into the market as people will respect the higher APY’s. In turn, the token price increases and the protocol furthers in development. It’s not a ridiculous amount, it’s the exact same as the 1inch rewards.
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As a way to also show how unreasonable the current discussion and signalling processes are. They have to change in my opinion.
Andrey, I’m a firm believer in what you’re trying to achieve here. There are plenty of other tokens out there that provide much higher APY’s for staking with a good use case too. However, I know the gap that you’re filling in the market is extremely important. Derivatives are massive, I have a lot of experience in this market and hence have dedicated capital to your token. I hope you understand where I’m coming from.
Cheers
On another note, can you please allow voting with ETH-OPIUM SLP tokens. It’s annoying that I have to unstake and wrap into governance tokens before i’m allowed to vote.
Thanks
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There’s no point of having governance if the devs will just use their own coins to vote for what they want. Defeats the purpose of it. That’s me out
It is allowed AFAIK, you don’t need to unstake and can vote with Opium, LPs, wOpium etc. And for voting you don’t need to wrap to wOpium. Mostly wOpium is a vesting of early supporters; by the way they voted “against” your proposal here with their wOpium. They are also stakeholders in this, we can not ignore them, we actually want them to be more active with proposals and voting.
On the other points, thanks for your feedback, I think you are right, proposals should be better coordinated and perhaps has a longer voting period. We are just bootstrapping everything and believe me or not - community is one of the most important thing for me, I always listen and happy to work together as we did with some other guys.
Please help all of us constructively instead of just criticising that APR is too low.
Many people complained that Sushi stakers have advantage when 1inch pool holds in dropium. Initial proposal was for 4 weeks as far as I remember and it was definitely longer, I think extending further and using dropium consistently over AMMs was not a bad idea. But happy to discuss
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