Strudel Enhanced Liquidity Proposal (SELP)

Strudel Enhanced Liquidity Proposal (SELP)

Context:

Sushiswap has accepted to create an allocation for the Strudel Protocol in their Onsen farm incentive program. In order to benefit from it we must migrate current Uniswap liquidity to the Sushiswap protocol and incentivize the Sushi LPT

The initial plan was to use the Torchship farm contract to migrate both pools with one transaction seamlessly to Sushiswap. However, we ran into an issue where because there is an existing vBTC-ETH pool on sushiswap the math for the LP transfer would not work out correctly.

Considering this, and the fact that our project aims to foster viable liquidity among different descentralized exchanges, we would like to explore other options along with the comunity in order to decide whats best for the long term health of the project.

Strudel Liquidity Overview.

The current liquidity pools are:

  • Uniswap
    • $TRDL/ETH pool: 1.8M TVL <- 60% $TRDL Yields
    • vBTC/ETH pool: 1.2M TVL <- 40% $TRDL Yields
  • Balancer Mare Ibrium Fund: 80k TVL <- $TWA Yield
  • Sushiswap: N/A

With sushiswap migration

  • Sushiswap
    • $TRDL/ETH pool: 1.8M TVL <- 60% $TRDL Yields (Or) Onsen Yields
    • vBTC/ETH pool: 1.2M TVL <- 40% $TRDL Yields (Or) Onsen Yields
  • Balancer Mare Ibrium Fund: 80k TVL <- $TWA Yield
  • Uniiswap: N/A

Enhanced Liquidity Proposal

The development team has created a liquidity pool for vBTC at crv.finance called the Strudel Oven. This product uses Curve BTC pools as a pairing for vBTC in order to benefit from their AMM curve. Instead of migrating manually the vBTC/ETH pool, which would cause significant inconvenience to the farmers and affect our liquidity we propose to migrate the $TRDL/ETH pool only using the farming contract in order to add both $TRDL-ETH and a new vCRV-ETH pool which would help create a more stable vBTC

Enhanced Liquidity Proposal

With sushiswap migration

  • Sushiswap
    • $TRDL/ETH pool: 1.8M TVL <- 60% $TRDL Yields (Or) Onsen Yields
    • vCRV/ETH pool: “NEW” <- Onsen Yields
  • Balancer Mare Ibrium Fund: 80k TVL <- $TWA Yield
  • Uniswap:
    • vBTC/ETH pool: 1.2M TVL <- 40% $TRDL Yields (Or) Onsen Yields

If the community agrees to this change we will reach out to the Sushi team to communicate our plans and initiate the migration for $TRDL/ETH to sushiswap.

The vBTC/ETH pool would continue to operate and be yielded the same % of $TRDL for the time being

1 Like

Would be nice to have liquidity for vBTC remain on uniswap for more traffic. Also there will be less moving parts and not a lot of gas being used if this goes through. I’m for it.

I agree to leave the $vBTC on Uniswap so there’s also more attention of $TRDL on Sushi.

1 Like

yes leave vbtc on uniswap and focus on trdl for onsen variety +