Replace BUSD with USDC for DEC Liquidity Rewards on BSC

in #spsproposal • last year (edited)

7aba233f216bbd16f050e2b18d790462b202e66c

The Proposal

Sunset the current DEC/BUSD LP traded on PancakeSwap and replace it with a new DEC/USDC pool since BUSD will soon no longer be supported by the issuer. After the support period ends, the price of BUSD will become unpredictable.

USDT vs USDC

USDC stands out as a more secure choice compared to USDT due to its association with Circle, which has demonstrated a strong commitment to regulatory compliance through rigorous audits.

PancakeSwap v2 vs v3

Since v2 adds liquidity for the entire spectrum of prices, v3 is technically more suitable for a token with a price ceiling such as DEC. However, due to the additional technical effort required to calculate SPS airdrops for v3, v2 has been chosen for now. Once the company is in a better state with more resources, a new proposal to migrate to v3 may be considered.

Implementation

Minimal effort required, simply changing the smart contract address for SPS reward calculations

Closing Remarks

Very simple proposal with not a lot to it, but absolutely necessary to ensure DEC has sufficient liquidity on BSC post sunsetting of BUSD.

#splinterlands #spt
last year in #spsproposal by
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     last year (edited) 

    Thank you for participating in SPS DAO Governance @cryptoeater!
    You can place or monitor SPS Stake Weighted votes for and against this proposal at the link below:
    Link to this Pre-Proposal

    Updated At: 2023-11-07 13:34 UTC

    Summary

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       last year  

      Thank you for putting up the proposal, this is something that absolutely needs to happen.

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         last year  

        Simple and straightforward. I agree with the choice to select USDC instead of USDT.

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           last year  

          I voted YES because I couldn't find any reason to vote NO. !PIZZA

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             last year  

            PIZZA!

            $PIZZA slices delivered:
            @jeremiahcustis(1/10) tipped @cryptoeater

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               last year  

              what about hive engine will the pool be available there or only on pancake swap seems alittle narrow if so.....i hope this will change in hive engine pools as well

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                 last year  

                Thanks I didn't even know easy yes

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                   last year  

                  Thank you for making a proposal to do this. I 100% agree!