(p6) Treasury allocation discussion (June)

Ave legion!

Due to the extreme gas fees followed by the market condition, we could not allocate all the funds according to the last vote. For example we could not sell 1225 UMA, so we kept it (therefore they will be added to the vote for June).

Vote: June 10th - June 12th

Allocated funds:

Sushiswap (UMA/ETH): 507.39 UMA / 2.79 WETH ($16,001.38)*

Jarvis Farm (jCHF/USDC): 18,499 USDC / 16,256 jCHF ($32,785)

Alchemix: 47,511 DAI (-23,755 alUSDC loan)

Curve: 6,582 CRV staked and locked for 4y ($11,650.14)

Total in USD: $60,436.52

Unallocated funds (as of 27.05):

UMA left from May: 1,222.5

UMA left for treasury (minus farming and LP rewards): 1,334.5

Total UMA 2,557 ($38,484.95)

USDC left for treasury (minus farming rewards): 1,540

Sushi: 92.166 ($1,152.72)

Total in USD: $41,177.67

Unclaimed tokens (as of 27.05):

Ellipsis (BSC): 215 EPS ($184.9)

Curve: 99.56 3CRV ($176.22)

Sushi: 25.773 ($322.93)

Jarvis: 0.09471 AUR ($617.47)

Total in USD: $1,301.52

-The claiming will be done one day prior to the vote (therefore the claiming amount will be higher)

Let us discuss the capital allocation!

By the way, the Sushi APY dropped since last time we spoke and now sits at 10.66% APY. Keep in mind that for the next vote we will have the possibility to mint jFiat with UMA.

Is the discussion still about May’s strategies?
Personally I think we can keep the same strategies (especially since we couldn’t implement them). However I also think we should integrate the strategy on AAVE because their reward ends in July (instead of SUSHI?).

This is a discussion on how we should allocate funds for June. The UMA tokens that we could not allocate will be added to the allocation of June

Hello !

I think participate to the Jarvis Farm is not optimized because we can count on people to reach the cap of jSynth minted agaisnt the Broker Contrat to due the attractive Yield on the farming program.
If the jFiat minted via Bank contract DOES NOT share the same cap of the minted jFiat of Broker, I propose to mint some jFiat. If it shares the same cap, I propose to move on Sushi and Alchemix+Curve.
For the rest, we still need to accumulate some CRV for the futur and we can profite of a lower price to buy it.
So, I propose to leave the Jarvis Farm (jCHF/USDC) and buy Curve directly (or Alchemix then Curve).

What do you think ?

Sushi rewards are too small, so according to me we should focus on buying CRV through a loan.

  • either through Alchemix (no interest fee)
  • or through Aave (polygon or mainnet?, depending on the incentives).

Then use unsold UMA to mint jCHF and keep providing liquidity on CHFUSD.

So:

  1. Withdraw from Sushi
  2. Sell 50% of the UMA for stablecoin
  3. Keep 50% to mint
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Hello,
What’s the advantage of taking out a loan on Aave and then buying CRV ?
Because I assume stable deposit and stable loan.
If we buy directly we can buy more CRV.

On Polygon there were Matic incentives when depositing/taking loan on Aave, but they are gone at tis point.

Since we will move Synthereum to Polygon we can also add some cool farming pool like farming on iron.finance some stablecoins pools.

Hi, I would suggest to use the funds to farm or buy those token which are strategic Important for Jarvis to have a vote in the gov of Others protocols. Curve is very Important. UMA, too.

I still see these incentives. On lending and on borrow (ATM, USDT borrow is 3.97% APY but incentivized by 7.13% MATIC farming)

some of the Unallocated funds should be used to buy back some Jrt if the price keeps going down to like 0.02, so whales can go out of Jrt if they want and we can tank them.

With the Jrt we’ll be buying, we can stack them to get stJrt, mint jEur then buy more jrt with them and mint once again some jEur or so something else with them… It is not to “fake pump” the price, but to tank people who want to leave the project so it doesn’t crash further.

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True, i guess I had a ui bug or sth.