RE: SPS Governance Proposal - SushiSwap Bonding Protocol Launch Partnership
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Providing those bonds is more or less the same thing as selling the tokens and put them ourself in the liquidity pool, but with extra costs.
From what I understand we pay the people 90% of their liquidity position, they hold it for a month and then dump the sps to buy more eth get liquidity and then buy another bond than dump again and so far.
So in total we are offering a 120% APY on liquidity since it is a 10% with 30 day vesting period?
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I addressed this is in Discord but I'll share my thoughts here as well for posterity:
The APR is very incorrect. We'd be paying 5% discount on tokens with the 30 day lockup. 5% of whatever is sold also goes to sushiswap. If we sell nothing, we pay nothing at all and just keep our tokens.
I love this concept of making a more sustainable DeFi and the DAO owning liquidity positions = income for the DAO. I'd like us to consider that something like this (even if not this exact deal) is a much better approach to defi than spending hundreds of millions of tokens to rent liquidity for another 3 years that all goes away when we stop the payments.
You are right the apy is just 60% for someone just buying and reselling the sps after the 30 days, but our cost is like we provide nearly 120%.
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how does it make it more sustainable if we have to continue paying a 5% discount every 30 days? Now I'm really confused.