I like this idea. To me it makes much sense for the MarinadeDAO to participate in the Saber/Sunny governance.
Additionally, Saber is a great team and has been supporting decentralization and securing the network with Marinade since the start which I think is worth noting.
That way, we can position ourselves as you write in your suggestion + knowingly participate in further decentralization efforts together with Saber!
I also like this idea but I’m not sure how effective this is.
Can we estimate if how much we buy SBR/SUNNY, how much APR% of mSOL pools will be increased ?
well it doesn’t matter how effective it is or not, if lido, socean or other staking services start doing that, we have to do that whether we want to do or not.
In that sense, we should do that before others start (they already started ? ).
Hello. I like the idea for several reasons:
Let’s add some hard-boiled facts:
Mix with strategy:
And some sweet game theory:
Serve with the options:
Eat with reasoning:
Conclude and pay the bill:
What do you think?
We could also provide liquidity (with Marinade Treasury) on MSOL/SOL pool on sunny.ag and farm $SUNNY and $SBR at the same time, we keep adding liquidity to this pool with treasury funds every week or so, so we keep accumulating more and more $SUNNY and $SBR.
After each gauge period, we claim farmed $SUNNY and $SBR and vote on MSOL/SOL pool to increase rewards.
Doing this, we provide liquidity to our pool and accumulate $SUNNY and $SBR with near zero risk, we get all the $SUNNY and $SBR and keep our treasury untouched. And if in the future Saber wars fail or whatever happens we take out liquidity and decide what to do next.
And how about borrow some SBR every time the vote takes a place on Port/Solend/Larix/…
To be able to vote you need to stake $SBR and $SUNNY for veSBR and veSUNNY. Staking is at least 5 days and 5 year max, the longer you stake more voting power you have.
5 days wont be sufficient for this?
This is still within the angle of HOW should Marinade participate. I tried to provide a look on WHY should Marinade participate or don’t. Without resolving the strategic why, the how seems like a tactical problem.
Going after the merit of the suggestion - is this going to provide more profit and/or influence over providing the same funds to own unstake pool?
I would prefer marinade have the largest pool, and focus on driving traffic through something that we control.
Is there a rush to win the Saber Wars, or can we just observe how successfully it works for other protocols for a few rounds before we make our move?
I think it would only be natural for Marinade, as the very first liquid staking protocol of its kind built on Solana, to have a presence and voting power in Saber governance.
As @c2yptic pointed out, Saber also has a track record of supporting decentralization and securing the network.
I don’t necessarily think that we should be in any rush to do this, but I do believe that having a seat at the table is important.
BTW, as of today, the Saber mSOL-SOL LP pool is receiving 0 SBR/day in rewards. If we want to change that, it looks like we have no choice but to get involved and swing some votes around.
Maybe mDAO views other protocols as more strategic, and that’s cool too. Would love to discuss further.
Also sharing some great resources on the topic below:
It’s possible the barrier to entry will change. The treasuries that are pushing the gauges up need to keep funding to compete for the top spot.
I would like to see some analytics from both sides as to how effective this model is for the treasury, and keeping the investors sticky.
agreed. the more data we have access to, the better the decisions we can make!
I think this topic might get a revisit with a twist. Since Marinade could spin up it’s own liquidity mining gauges, the natural approach would be to propose to Saber DAO to exchange a part of SBR for part of MNDE - since both sides will be interested to vote in each other gouges.
Hello everyone,
The liquidity mining gauges proposal that @gekonn mentioned is now live.
There hasn’t been much discussion here. Pinging @Admiral, as the thread creator, to see if they feel the topic is still relevant (any other participants are welcome to comment as well). Otherwise we’ll archive this thread in a few days.
Looks like TVL in these pools has come down substantially, but at current price levels, I suppose it could be worth revisiting this idea. More voting power - that’s for sure.
Can you elaborate on why it is worth it?
I think the concentrated liquidity is taking the lead on the mSOL-SOL pair: volume on Orca’s whirlpool is higher than Saber’s with 20% of TVL. While the pool is smaller, perhaps having an ability to slow unstake in one epoch directly from Marinade is good enough for large positions and it makes sense optimizing for tighter spreads.
Valid point here for sure!
To be clear, I wasn’t suggesting it definitely is worth it, just saying it could be worth revisiting the conversation in case the original proposer still feels strongly. Doesn’t appear to be the case.
6 months passed since you wrote this. What would be your take on the Saber wars situation right now?
Personally, I am still in favor to work with the Saber gauges as the mSOL-SOL pair is doing still to this date substantial trading volume;
Pool Size - Volume
Log-Chart:
Unless the dedication of the teams towards the projects accelerates, I doubt it would be a good investment for the protocol.
(Anyone wanting to boost the rewards though can borrow SBR at Port & stake these in tribeca.)
Looks like an appropriate time to close this post.
