Generally, I like the idea of protocol owned liquidity.
That said, there are a lot of moving parts in play we need to work through and get right as a community.
Thus, I agree that it is a bit hasty to say “proposal goes up in 24 hours” - can you give it at least 1 week for proper community digestion and discussion?
Can you please provide an analysis of how your proposal would interact with @ed.pylon’s proposal to establish a Treasury? Here’s my understanding: Under Ed’s proposal, all of the $UST earned from Pylon Pool fees would go into the T, right? And, you are basically building on that, and saying, let’s take 1/2 of the $UST in the T and buy $mine and then the T can buy LP tokens composed 50/50 of $mine and $UST, and then the T can deposit all of its LP tokens into the LP farm? And return farming yields to $mine stakers? Is that correct? Am i missing anything?
An administrative question:
- if the Treasury needs some of the $UST to participate in IDOs or hire staff or pay for a CEX listing, how are we going to resource those initiatives if all of our $UST is parked in LP tokens?
- going proposal by proposal via governance is slow and time consuming, thus, maybe your proposal should pre-empt this issue by adding the following additional motion:
“The community moves to grant the Pylon team standing authority to sell down the Treasury’s stake in the LP farming activity on a just in time basis if and as it is required to free up funds for other Community Governance approved uses (eg. funding contractors, investing in IDOs). For the sake of clarity, this is not a blanket approval for the Pylon team to use Treasury funds in the LP Farm for any discretionary purpose, but, simply an administrative approval for the Pylon team to transfer liquidity in the LP Farm into the general purpose Treasury fund if/as it is necessary to fund Community Governance approved activities and obligations. The intended spirit of the approval is that the Team keeps liquidity in the LP Farm as long as possible to generate yield for $mine stakers, while also having authority to fund other Community Governance approved activities and obligations on a just in time basis.”