P59 : Mint jEUR + OTC swap with Angle to increase agEUR/jEUR liquidity and DAOs veAPW voting power

**Summary:**Increase the liquidity on agEUR/jEUR + the treasury and veAPW voting power

Context: This proposal anticipates a potential winelisting of the agEUR-jEUR beefy vault.
This option is just to take in consideration for now and gather feedback, as it would have to be voted on by both Jarvis & Angle DAOs concerned and the IBT needs to be voted on by APWine DAO too.

Rationale: The goal of this proposal would be to use the money printer for 500K jEUR. This amount could be lowered if the community consider it too much.
The strategy would be that Angle mint 500k agEUR, and Jarvis mint 500k jEUR.
Both DAOs make an OTC deal of 250K€ for a defined period (let’s say 6 months for example), which would allow each DAO to acquire a 500K€ POL, and a TVL of 1M in the agEUR-jEUR LP on Polygon.

Then, each DAO could deposit the LPs on the Beefy vault mooJarvis2eur which can be tokenized on APWine if voted, to add liquidity in PT/Underlying and PT/FYT to accumulate more APW rewards.

To prevent the risk of a depeg, the protocol responsible would be in charge of covering the losses, like it’s done for the Laas with Ondo. IT means that at the end of the 6 months, if both DAOs can’t swap back OTC the same amount, the DAO who has less will have to pay the difference.

In this case, each DAO would have 500K deposited and the TVL on PT/Underlying would be at least 1M€.

It’s also possible to add extra rewards in JRT, and to bribe veAPW holders to wine list the IBT and/or to get more rewards, which can increase the size of the pool and avoid killing the yield for the users.

If both Jarvis and Angle own a good part of the POL on this pool, the interest would be to have a good yield and increase the veAPW voting power to keep influencing the reward distribution in the long term.

500K jEUR uncollateralized

Technical implementation:
Mint the jFiats
Do the OTC swap
Add liquidity on Curve; then on Beefy
Tokenize and deposit on APWine

Voting options:
Yes, but with a lower amount

Should we implement this proposal if voted for on both DAO ?
  • Yes
  • Yes, but with a lower amount
  • No
  • Abstain

0 voters

Discussion on Jarvis discord, channel p59 - money printer amm