[MP-3] Choice of platform

[DAOCoreContributors]

Official Merit Polls (MPs) are a way to get direction on new MIPs. Some MIPs have a high degree of complexity and/or importance, these will be guided by official polls. By running these polls, we can get better input for the various variables that need to go into the official MIPs. The outcome of polls will not have any direct or permanent implications; they will only form input to the MIP drafts. Only a Merit Improvement Proposal (MIP) that is voted in will have direct implications for the DAO. The voting weight is the same as with MIPs; MC, MC/ETH, sMC and sMC/ETH are eligible to vote with the largest weight to sMC/ETH and the lowest weight to unstaked $MC.

Title
Choice of LP staking platform in the new staking v2 module

Authors

• Merit Circle Core Contributors

Summary
Third official poll for the staking v2 discussion. See previous poll results here:

• MP-1
• MP-2

A discussion that should ultimately lead to a MIP that outlines the design and execution the new staking v2 module.

Dear community, In the past couple of months, we’ve seen dozens of community members pleasantly enjoying the Merit Circle DAO’s staking pools. As we mature and the DAO progresses, we feel that it’s time to gauge our community’s thoughts about the future of these pools. For the first year of staking, we’ve dedicated 100,000,000 $MC. However, for the second year and the future of the staking pools, we want to spice things up. We have some ideas that will take everything we learned from the past …

You can find the full post here.

Relevant information
Poll 1 decided the main LP pairing asset should be USDC. Meaning the LP pool will be MC/USDC in the second version of the staking platform.

The current pool is a MC/ETH 50/50 Uniswap v2 pool. The old pool will be phased out, current v1 stakers do not have to worry. They will receive similar relative proportional rewards, until the last staker is unlocked (1Y from new pool launch).

The new pool will accrue the majority of the dividends and subsidies the protocol will attribute to stakers (currently 80%). The pool will exist next to a single staking $MC pool, that also receives part of these staking rewards (currently 20%).

In the previous poll, the DAO decided that the LP stake can be locked for 0-48 months. The longer the lock, the higher the rewards for the staker. The bonus multiplier will be either linearly or exponentially.

LP tokens will retain a similar voting weight as they have currently in the V1 system. Locked stakers could also get secondary benefits, such as airdrops from (partner) games or platform fee discounts.

Poll
What should be the platform for LP staking in the staking V2 platform?

You can vote here: Snapshot

[JJJJJJJJ]

I’d like to suggest Sushi as a candidate. They’re a well established DEX with the same features of Uniswap V2 however with some additional advantages:

1. They’d likely offer us a significant Sushi incentivized pool meaning effectively free, non-dilutive income for stakers and the protocol.

2. They’ve been recently introducing some interesting features including SushiGuard which should offer MEV protection and also gas refunds: Proposal: SushiGuard Router Contract - Proposals - SushiSwap

3. This is slightly more subjective but they seem to function more as a DAO and embody more of the spirit of DeFi than Uniswap. Again, some my personal opinion here but I have been disappointed with some of Uniswap’s decisions, including the delisting of tokens: Uniswap delists 100 tokens from interface, including options and indexes

[MC-Hamma]

I am in agreement with JJJJJJJJ that Sushi should be an option, uniswap v2 seems to be overwhelmingly voted for in the current proposal and JJJJJJJJ’s 3 points about Sushi makes sense as a better alernative with the same core functionality as uni v2 but with some additional benefits.