SUSHI hast it that 66% of the SUSHI earned from farming are vested for an extended period of time.
These vested SUSHI will go to the Treasury, as it would be way to complicated / time intensive to implement a mechanism that harvestst them and then sweeps them into the LP.
Also, the timeline (6 months vesting) makes it near-impossible for this to be a fair process to stakers.
At current state, the PICKLE SLP Farms provide smaller APY then the “pure” SUSHI LPs.
Although something can be said for getting PICKLE instead of the 2/3 vested SUSHI allocation is desirable, there is a discount to the PICKLE farms that is quite substantial in some cases.
The SUSHI LP Farms haven’t really caught on yet, this is an attempt to make them more attractive and thereby increase potential earnings for both the Treasury AND our beloved present and potential future briners.
USDT: 64% APY vs 44% APY
DAI: 68% APY vs 56% APY
USDC: 72% APY vs 58% APY
WBTC: 29% APY vs 23% APY
YFI: 90% APY vs 64% APY
As you can see, the difference in APY is between 20% and 30%, I’d love for them to be at least even to make these Farms worthwhile.
I therefore propose to remove the 20% performance fee on all SUSHI LPs to allow better compounding effects and allocate the 2/3 vested SUSHI to the Treasury by default for current and future SUSHI LP initiatives.
EDIT: of course, the SUSHI harvested after Vesting from now will be added to the Treasury, overflowing into the Smart Treasury. As per my simple calculation, at CURRENT price and CURRENT TVL that would make roughly $7000 per day: