Treasury OHM-DAI liquidity as of today - September 23rd, 2021
Holdings: 66.8 SLP (3.3 SLP in MasterChef)
MasterChef: Increase allocations from 3.3 SLP to 16.7 SLP (25% of holdings)
Purpose: Increase OHM-DAI SLP deposited in Sushi to qualify for additional Onsen rewards. After discussing with Sushi, we need to balance TVL in our pool with the reward increase. The increased SLP allocation is designed to drive the APR on our pool under 25% APR, in order to match other pools like ETH pooled against DAI, USDC, and USDT. This puts OHM-DAI in the same league on Sushi with other established base pairs. Increasing our TVL will also ensure that future pools (including OHM-LUSD and our upcoming OHM-ETH pool on Arbitrum) are whitelisted for Onsen rewards as well.
Benefit: The proposed reward increase for our pool is from ~640 SUSHI per day ($6.6k) to 2,250 SUSHI per day ($23.3k), or $8.5m annualized.
Considerations: The MasterChef contract is one of the most widely used contracts in DeFi. The proposed allocation of 25% of SLP also remains within the constraints of OIP-20.