FIP-XX - Sushiswap Integration
This proposal will:
- Seed 10M to form a FEI-USDC pool on Sushiswap with 100AP weighting of TribalChief TRIBE rewards;
- Seed 10M to form a FEI-DAI pool on Sushiswap with 100AP weighting of TribalChief TRIBE rewards;
- Seek SUSHI rewards to create a 2x rewards pool.
FEI has an established presence on Uniswap, Rari, and lending markets Aave amongst others.
With the effort to grow the Fei Protocol ecosystem and further the stablecoin of DeFi narrative, this proposal will attract further liquidity to the ecosystem while pursuing an integration with Sushiswap, one of the last large DEXes that we have not partnered with thus far, as well as further hedging idiosyncratic risk from other protocols.
TribalChief has served Fei well with the rapid deployment of rewards to incentivize multiple avenues of liquidity. This proposal will continue to rely on its deployment to the proposed new pools. The integration will also further initiatives with the Sushi ecosystem (hopefully more trading pairs - note that DPI-FEI is currently incentivized by Sushi) in addition to FEI being seeded to the Kashi lending system. Fei Protocol should also be able to earn Sushi LP fees with the seeded liquidity, as well as any users who choose to join the proposed SLP pools.
The proposal will seed 10M each to establish a FEI-USDC and a FEI-DAI pool with 100AP weighting of the TribalChief rewards stream, which will slightly divert existing rewards to all existing pools. However, we will also seek a SUSHI rewards stream together to hopefully attract more users due to the low weighting, which will keep rewards more or less unchanged in other pools. The seeded amount is in accordance with FIP-13.
- Yes - as proposed
- Yes - but with more incentives
- Yes - but with less/no incentives
- No - more discussions required