StakeDao Liquid Lockers (CRV)

Post Title: StakeDao Liquid Lockers interaction

StakeDao liquid lockers enable maximization on your yield and voting power while keeping liquidity on your governance token, by converting them to sdTokens in the Liquid Lockers

More about StakeDao and Liquid lockers : Introducing Liquid Lockers & veSDT | by Stake DAO | Medium

Shortcut Description:

Shortcuts could simplify the interaction with StakeDao liquid lockers : Mint sdToken and stake them in the gauge to receive maximum protocol APR, platform fees, and SDT (StakeDao token) incentives, as well as boosted voting power on Curve.

There’s multiple lockers on StakeDao (only for Governance tokens using veToken governance model such has CRV, CAKE, YFI ect )

We’ll take for this shortcut the main liquid locker and most used : Curve (CRV) with a current 63.3M (34M$) CRV locked on Stakedao with 99% peg.

User Actions:

  • Choose the desired Shortcut for Curve liquid locker on StakeDao
  • Send the ETH to the Shortcut address.

The Shortcut performs :

  • Swap ETH for CRV on curve or uniswap
  • Approval of CRV token: 1 tx
  • Mint & Stake : mint sdCRV with CRV, stake sdCRV : 2 tx

The Shortcut save :

Visiting uniswap/curve app

Approval of Eth token

Swap of Eth for Crv token

User visiting app.stakedao.com , locker page, crv page

Connecting wallet

Approval of CRV token

Minting sdCRV

Staking for sdCRV

Shortcut names

curve.liquidlockers.sdt

Shortcut Complexity Score: 2-3

can’t estimate the complexity/feasibility of this kind of shortcut

Multiple tx of transfer, approval for spending, multiple smart contracts

Proposed Fee:

0.2% ?

Creator Wallet:

Monjou : 0xc540b6748f64547e213F8E4dBE84f23dA416794c

4 Likes

What’s the current yield and what the average historical yield on this? I would use this shortcut, I’m a yield chaser and getting in quickly def speeds up my ability to move around.

Also have you considered making a yield section for Shortcuts?

1 Like

Big fan of this Shortcut idea, thank you Monjou, excited to explore this further.

1 Like

This is helpful. It’s focused on being profitable and removes many steps for the end user.

@monjou which community do you think this serves and are there a few people that you may have spoken to on this idea and they were interested?

1 Like