When looking at one of the treasury’s addresses,
0xb65cef03b9b89f99517643226d76e286ee999e77, it occurred to me that almost none of the assets there are being farmed. All the Curve and Sushi LP tokens that are earned by the DAO as a withdrawal and/or performance fee are not put to work. Is this with a specific reason in mind? I can understand this if the DAO does not want to hold on to them for very long, but some of these tokens have been sitting there for months already.
Here’s a quick calculation I did based on the USD value of the LPs and the APR offered by Convex/MasterChef:
*I ignored the bBADGER and bDIGG pools APR, since due to their current farm sizes ($142k, $81k) the APR would drop considerably were Badger to participate.
That’s a free $35k per month (~3% of last month’s revenue)!
Another suggestion I have, would be to pool the ibBTC in the wallet into the WBTC/ibBTC pool. This would collect swap fees and yield more SUSHI, besides increasing the depth of the pool and stability of the token.
In the long-term it might be cool to consider writing an automated strategy for the treasury to manage these farms (pool loose tokens, stake, harvest yield and auto-compound). For now, I think already staking some of these tokens manually is a super quick win.
Or am I missing something? Is there a reason this hasn’t been done yet?