A New Governance Proposal: PSB-SGB SuperFarm Issues
Our new PSB-SGB SuperFarm is delayed pending a new governance vote
This week, we passed a governance proposal to end our current PSB-SGB farm and create a new PSB-SGB SuperFarm with rewards in both PSB and SGB.
While implementing this new SuperFarm, we discovered technical issues that require the community’s feedback and opinion to move forward.
The Sunshine and Rainbow LP staking algorithm, as it sits today, requires a “pool0” farm, which is the current PSB-SGB. “pool0” means all farms, when compounded, go into the current PSB-SGB farm.
If we create the new PSB-SGB SuperFarm and end the current “pool0” farm, no farms will be able to compound until the new SuperFarm ends in 6 months. This is an issue at the contract level.
We have three proposed solutions.
Delay the SuperFarm until SuperFarmv2 contract is live — and then turn the current PSB-SGB farm into a SuperFarm
Pangolin’s engineers have been writing an updated contract for SuperFarms for launch on Flare and Hedera.
Once that contract is audited and live, we can turn the current PSB-SGB farm into a SuperFarm, and this would not require users to claim their rewards before the end of the SuperFarm. This would be a delay, but would preserve users’ APRs.
This option would contradict with the last governance vote, as APRs would not reset, and current farmers would carry their current PSB-SGB APR into the new SuperFarm.
Turn the current PSB-SGB farm into a SuperFarm
This choice would require users to claim their rewards at least once before the end of the SuperFarm, which will reset their APR. This is because the PSB emissions will not end at 6 months, so unclaimed SGB can eventually be claimed by other users if not claimed before the end of the period
This option would also contradict with the last governance vote, as APRs would not reset, and current farmers would carry their current PSB-SGB APR into the new SuperFarm.
End the current farm, and launch a new super farm for PSB-SGB.
If we end the current “pool0” PSG-SGB farm and create a new PSB-SGB SuperFarm, we’ll hold to our proposal.
The issue is at the contract level, all non-PSB farms will not be able to compound until the SuperFarm ends in 6 months.
These farms compound their PSB rewards into the “pool0” farm. If that farm ends, they won’t have a route to compound their rewards until the SuperFarm ends in 6 months.
A delayed version of Option 2 (could be as much as 1 month) BUT users wouldn’t have to worry about claiming rewards and could keep APR as long as they want.
Keep current farm and turn into SuperFarm. All farmers will have to compound before the end to ensure rewards but will reset their APR.
End the current farm, and create new SuperFarm, but all non-PSB farms can’t compound their rewards for 6 months.
If you are staking PSB in a single-sided SAR NFT you’ll be able to participate in the vote.
1 PSB staked in single-sided SAR NFT = 1 vote.
Your voting power includes the number of PSB staked across all your single-sided staked NFTs.
A snapshot is taken once the proposal is live, and only the PSB staked in a single-sided SAR NFT will go toward your voting power. There is no gas fee to vote.
- To vote, visit our Snapshot page
- Once live, find and click on the open proposal
- Read the proposal details, and if you have questions or concerns, you can ask about them in our Discord
- Connect your wallet
If you encounter issues connecting with Bifrost, go to “settings,” click “WALLETCONNECT” and use the QR code scanner to connect
- Choose your decision and sign to confirm your vote
Jan 6(see Snapshot proposal for the exact hour)
Jan 9(see Snapshot proposal for the exact hour)