- Edited
Zeus
We should pursue this, but Liquidity of the receipt asset should be high otherwise there will be arbitrage imo.
If I understand this correctly, this comes down to introducing:
- "rOHM" (as receipt for Bonding but in this case immediate Timelocked Staking) functioning analogous to ETH staking with receipt of stETH which is able to be used in DeFi for e.g. borrowing, farming, staking etc.
- With expiration date, after which you can redeem your Timelocked Stake of OHM with rOHM.
- Difference between rOHM and sOHM is that rOHM would have market value / would be liquid.
What I think would be important for a receipt asset implementation:
As solution to the rebase mechanics application within the receipt, in my opinion, the receipt asset for Internal Bonding should be rgOHM providing ability to claim X gOHM after expiration thus collecting rebases.
An issue I see with this mechanism is even if the receipt asset is rgOHM:
Upon Internal Bonding investor receives rgOHM at premium in relation to gOHM market price, swapping rgOHM to gOHM thus making profit on the receipt, utilizing gOHM for Bonding OHM and receiving a discount, rinse and repeat.
Interesting implementation, I was considering the same for our project Zeniverse but we streamlined it to Timelocked Staking with simultaneous Revenue Sharing. Currently working on the ability to claim the Revenue Sharing from the Timelocked Staking pool while the Timelocked Staking gets autocompounded.