Indigo V2 is fast approaching and, with its arrival, the DAO will finally unlock the treasury and effectively become a VC on Cardano thanks to its 4.5m INDY currently valued at approximately 18m ADA.
The new system of Interest on iAssets will produce a stream of income in ADA to the treasury.
The Protocol Working Group (PWG) is already doing an exceptional job in ensuring that this influx of ADA brings additional value and liquidity to our iAssets.
In periods of high volatility or uncertainty it might make sense to mitigate risk and let the treasury grow while waiting for the right opportunity to invest. A safe and low risk investment opportunity for the ADA held in the treasury is to delegate them to a Stake Pool and enjoy native liquid protocol native rewards. Currently such rewards sit at about 3% a year and require no locking time, making this, possibly, the safest investment of the ADA in the treasury.
This proposal is aimed at delegating the treasury ADAs to a community pool run by a Single Stake Pool Operator.
My proposal would be to delegate this amount to the EASY1 Stake Pool.
Some numbers about the EASY1 Stake Pool:
â—Ź Registered on October 20th 2020
â—Ź 200k Ada Pledge
â—Ź 170 Ada Fixed Cost and no more than 1% Margin
â—Ź Over 2000 minted blocks
â—Ź 3.5 years of operations
â—Ź 1.1 million ada as all time rewards
â—Ź Leader logs published on pooltool.io
Giovanni and his pool have always supported Cardano and its most promising protocols with disclosures and videos both in Italian and English, helping its dissemination! I believe that the DAO should support these pools and personalities within the Cardano ecosystem! For me, it’s a yes.
I think it’s a great Idea. We are going to want those wallets to be staked somewhere. We could always vote later on to maybe rotate our SPO support or even split it up but for now EASY1 is so far the only pool expressing interest so why not.
Fun fact, while I am a big fan of Indigo, I was not aware of the ada treasury, but one of my delegates (that created the post) was the initiator.
He reached out and asked if it was okay to make this proposal and recommend my pool. I was obviously onboard with this immediately coz it’s a great idea. I only had to provide pool’s stats.
For this reason I want to thank my delegates for the trust and loyalty we built over the years.
I know that at the moment the opportunities on DeFi are more profitable than simple staking but it is also true that not all funds can be tied into the various protocols for reasons of security and risk mitigation. It would be important for ADA awaiting placement (pools, iAssets etc…) to earn rewards from staking regardless of how many these ADA are
Giovanni is very helpful to cardano and has built many user guides and donates his time. I would support something like this however I would like us to also consider leveraging boosted stake on fluid tokens as it is easy money and will multiply fast