Proposal: Migrate the KEEP/ETH Pool 2 from Uniswap to Sushiswap

Proposal 1A: Migrate the KEEP/ETH Pool 2 from Uniswap to Sushiswap.

Summary:

Currently, LPs on UNI V2 KEEP/ETH are only earning KEEP rewards. LPs are collecting roughly .3% of the fees on every trade made through the protocol where the fees are then split proportionally to users share of the pool in KEEP. Sushiswap has just launched their Masterchef V2 contract which allows Pool 2’s to earn both SUSHI rewards and their pooled currency.

Why:

Pool 2’s will now earn both rewards in their native currency as well as SUSHI. If passed, the rewards generated from this proposal would come in the form of BOTH KEEP and SUSHI. The fees generated from the protocol are like Uni at .3%. This is only possible assuming that KEEP has been added to Onsen to generate sushi yield (see proposal 1B).

Additionally, with the launch of UNI V3, UNI V2 is going to become more and more obsolete as the days go by eventually acting as a second-class citizen. It would be awesome to generate some yield for our KEEP community in the form of two tokens! The Sushi UI is also very elegant and has improved greatly which is great for new users, really enjoy the products the sushi team is rolling out and looking forward to the rest of the year.

Proposal 1B: KEEP in Onsen

Summary:

  • Allows users to retain their exposure to KEEP/ETH while earning SUSHI yield.
  • Users can unstake whenever they wish there is no lock.
  • Boost liquidity in Sushiswap
  • Needed to migrate UNIV2 Pool 2 to Sushiswap Masterchef V2 contract to earn both SUSHI and KEEP rewards.

Why:

Only tokens that are in Onsen are earning yield in the form of SUSHI. If we look at the yield tab on Sushiswap currently, there is no KEEP product. I am proposing we add the KEEP-ETH to Onsen so that we can make some headway on Proposal 1A that is discussed above. Only products that are in Onsen will receive SUSHI yield.

1 Like

I agree with you that it’ll be good to migrate away from UniSwap V2 eventually but for me I’d rather see tBTC/ETH go to the biggest DEX and that right now is UniSwap V3