[Discussion] What to do with EPS airdrop?

Proposals Finance
62

Yes, and that’s very different from veCRV, where you can’t even move the tokens. I think time-weighted snapshots mimic this better.

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63

Is this how 3crv rewards are paid? (My observation is, that it is not)

I think airdrops should be done matching EPS snapshots date. vecrv != locked crv. vecrv is a calculation based on crv locked and duration of lock. it changes every day (decaying) but is changeable by the user by extending the lock date (increasing). If someone locks (or extends the lock) 1 minute before the snapshot they get the airdrop. Matching the EPS snapshot is IMHO the most equitable, consistent and coherent model.

Nothing. The stocks drop by the dividend amount on the ex-dividend date. This is normal efficient behavior.

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64

strong disagree. we shall follow exactly how eps droped to VECRV holders.

65

Options 2 & 1 respectively would my preference.

66

I don’t think yveCRV should attempt to mimic veCRV - the whole point is for yveCRV to allow holders to benefit from some liquidity while earning weekly 3pool trading fees from Curve. By this logic, should previous yveCRV holders continue to receive weekly 3pool rewards even after they’ve sold their yveCRV?

I think we should go with the simplest option 3 (simple snapshot matching time of airdrop) which is also consistent with how 3pool rewards are distributed. If you sell your yveCRV, you also sell all rights to future rewards/dividends etc (as it should be).

As for farming strategy if we are to take the 50% penalty we should simply distribute the EPS to yveCRV holders and allow them to decide whether to stake or not. If we are not going to take the 50% penalty, we should distribute EPS to yveCRV holders as they become unstaked

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67

How would the distribution work for Sushi LPs?

68

@banteg

What, if any, consideration have you received (or will you receive) for being an ellipsis multisig:
https://docs.ellipsis.finance/dev/admin-multisig

How will you make decisions regarding conflicts between Curve (Which all of Yearn depends on) and Ellipsis (which mostly only affects yvecrv holders).

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69

It’s just a favor, don’t read too much into it.

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70

Hey @banteg - just wondering, what’s the process to progress this from here? Any thoughts on when we might make a final proposal and move forward?

I think the sooner we get some clarity on how this will be handled the better for yveCRV, esp. considering StakeDAO just completed the vote on their strategy. (Snapshot)

It looks like the approach for sdveCRV is:

Farming Weekly Airdrops:

  1. Claim now, burning 50% and lock for 3 months to yield farm EPS & BUSD.
  2. Use 75% of the farmed rewards (EPS and BUSD) to compound yield farming (locked for 3 months) whilst selling 25%.

Distribution of Rewards

  • Use 70% to buy SDT - distribute 50% to sdveCRV holders and gift 50% to The Sanctuary .
  • Use 30% to buy CRV - deposit into the Perpetual Passive Strategy to boost all the Curve strategies on Stake DAO.* (*sdveCRV will not be staked in governance, therefore, will not dilute returns for sdveCRV holders.)
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