$CRYSTL Governance: Proposals 6, 7, & 8

The Next Evolution of Crystl Finance

Hey #CrystlCrew! As we are gearing up for the releases of our Revenue Sharing, V3 Vaults, and Cross-chain expansion, we will be holding a round of governance proposals to guide the initial launch of these features. See below for the full details on each proposal.

Snapshot Details

The snapshot will occur on 03/07 at 16:00 UTC and the voting will end on 03/10 at 20:00 UTC. Due to Snapshot not being cross-chain compatible, we will hold the count on the Polygon Blockchain, and users will need to hold their $CRYSTL in their Wallets on Polygon or be staked in the $CRYSTL — $MATIC Farm on ApeSwap at the time of the Snapshot to be eligible for the Vote.

TLDR:

  • Snapshot Time: 03/07 at 16:00 UTC
  • How to Participate: $CRYSTL must be in your wallet on Polygon or staked in the ApeSwap $CRYSTL — $MATIC Farm at the time of the snapshot
  • Voting Ends: 03/10 at 20:00 UTC

Proposal 6: Use Excess Revenue Sharing Allocation from Previous Months to Increase Polygon Revenue Sharing Pool

  • Option A: Use Previous Months’ Revenue Sharing Amounts to Support a Minimum $5k Allocation on Polygon
  • Option B: Keep Revenue Sharing Allocations on their Respective Chains

Our Revenue Sharing system will serve as not only a way to consistently reward our $CRYSTL liquidity stakers with a portion of Crystl Finance’s Vault Revenue, but also ensures that $CRYSTL will have sufficient liquidity on every chain the token is on (please see here for further details on the Revenue Sharing Model: https://crystlfinance.medium.com/crystl-governance-proposal-1-82302e3f79b4). This revenue comes from a portion of the 5% performance Fees on our Vaults.

Currently of the 5% performance fee, 4% goes to the Crystl Finance treasury and 1% will go to the Revenue Sharing Pool. This allows us to ensure Crystl Finance’s longevity while being able to reward our community. As the TVL of the Vaults increases and a smaller percentage of the performance fee can sustain Crystl’s runway, we will hold an additional Governance Vote to allocate a larger percentage of earnings to the Revenue Sharing Pool. With this system, the rewards to our users will grow dynamically alongside the growth of Crystl Finance! Revenue Sharing Pools are set to go live on 03/14.

With Option A, we can use part of the Revenue Sharing from the past months on Cronos to support the Polygon Revenue Sharing Pool to $5,000 to better reward stakers 😊

Option B will see the allocations stay as they currently are with the Cronos side having the far larger Revenue Sharing Pool.

Proposal 7: How to Use the $CRYSTL from Buybacks for V3 Vaults

  • Option A: Use the $CRYSTL to Boost Vault Rewards
  • Option B: Use the $CRYSTL to create a stake $CRYSTL earn $CRYSTL Pool with $CRYSTL Maximizers built on top of it

Our V3 Vault Release will not only increase the efficiency and structure of our Crystl Vaults but will have exciting new and original features: Boosted Vault Rewards and Single Token Maximizers. These will allow Crystl Finance to have an edge over the current market and competition as a premier Yield Maximizer. For this proposal, we will decide how to allocate the $CRYSTL that was bought back in January to these new features on both Polygon and Cronos (you can read further about V3 Vaults here).

Option A will use the $CRYSTL to boost the rewards on our most popular Vaults. This will allow users staked in these Vaults to earn $CRYSTL on top of the Vault rewards, thus increasing the APY. Not only does this mean extra rewards, but incentives more TVL in the Vaults which in turn will increase the Revenue Sharing Pool.

V3 Boosted Vaults Strategy

For Option B, the $CRYSTL would be used for a single staking pool for stake $CRYSTL earn $CRYSTL. We will then set up $CRYSTL Maximizers on top of this pool which will allow for staking of LPs and other tokens to earn bought back $CRYSTL. This option will both give a single staking pool for $CRYSTL and additional farming strategies that put buy pressure on $CRYSTL.

Proposal 8: Expand V3 Vaults and Maximizers to BNB Chain

  • Option A: Expand to BNB Chain next
  • Option B: Expand to another blockchain

Option A will see Crystl Finance Vaults and Maximizers expand to BNB Chain once V3 is released. BNB Chain is one of the largest Blockchains and has multitudes of opportunities for V3 Vaults.

With Option B, Crystl Finance will look for other blockchains for us to expand to after V3 is released.

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