IIP-5

IMPLEMENTED

Simple Summary

Begin staking the Illuvium Treasury’s Sushi LP tokens into the Sushi ILV/ETH pool.

Abstract

Sushi Onsen pools are designed to incentivise liquidity providers with $SUSHI rewards, over and above the 0.25% they receive from trading fees.

Overview

Illuvium staking has now launched and is offering the highest yield percentage for ILV holders. This has seen a large portion of LP’s move their SLP tokens, and as such there is an opportunity for the treasury to begin staking in the Sushi ETH/ILV pool. At the time of writing, the pool is offering 230 Sushi rewards per day. A separate IIP should outline what the treasury does with these $SUSHI rewards. A suggestion would be for giveaways and competitions within the Illuvium Discord.

Rationale

It makes more sense for ILV holders to stake into Illuvium pools as the APY % in that pool is much higher. Because of this, the Illuvium treasury should capitalize on the potential rewards from the Sushi pool while ILV token holders stake into the Illuvium pool.

There are many potential uses for these $SUSHI tokens, and the DAO should always be looking to find ways to benefit the token holders.

Test Cases

N/A