dHEDGE Uber Pool Governance and sUSD Rewards
The Uber Pool is the treasury of the dHEDGE DAO. Managers on the platform charge a Performance Fee which is collected in pool tokens. This means that successful managers grow their share of their own pool over time. The platform fee captures 10% of all performance fees in the Uber Pool — this becomes a growing treasury for the dHEDGE DAO.
The Uber Pool currently holds over $2.8M of pool tokens and can be viewed here: https://app.dhedge.org/governance
Staking DHT is the only way to get exposure to the Uber Pool and to make decisions over it. DHT staking is time-locked for up to 3 years, and a longer lock gives higher voting and earnings power.
Goals with the Uber Pool
1. Long-term alignment of DHT stakers to the success of the platform
This is achieved by having a boost where long-time staking is heavily rewarded.
2. Grow the Uber Pool over time
The Uber Pool needs to rebalance in order to allocate to the best managers on the platform and optimise long-term performance. On dHEDGE we measure ‘best’ by Score. Secondly, we can grow the Uber Pool long-term if not too much is distributed to stakers in the short term.
3. Balance between reinvesting and distributions
Maximise future value by striking the right balance between current distributions and long term reinvesting. Distributions are made by liquidating pool tokens into sUSD and distributing them to DHT stakers.
Implementation
The above goals can be implemented by first sorting the pools in the Uber Pool by Score. Secondly rebalance the bottom 10% on a value basis. To prevent the DAO from spending too much on gas fees, a minimum threshold of sUSD 5,000 will be applied to pools that are being rebalanced.
The bottom 10% can be either reinvested or distributed to stakers. Reinvestments are easiest done through the new actively managed index, dTOP — an index that constantly invests in the best managers on dHEDGE and which is not favouring a particular manager.
The first Uber Pool governance vote is now live on https://gov.dhedge.org/#/gov.dhedge.eth/community with the following options:
- Reinvest 100% in dTOP, distribute 0%
- Reinvest 75% in dTOP, distribute 25%
- Reinvest 50% in dTOP, distribute 50%
The vote will go on for 1 week, after which the DAO will act on its outcome. Going forward, we expect to conduct Uber Pool governance votes on roughly a quarterly basis.
More About dHEDGE
dHEDGE is a decentralized asset management protocol connecting the world’s best investment managers with investors on the Ethereum blockchain in a permissionless, non-custodial, trustless fashion. dHEDGE aims to democratize the investing experience leveraging the unique capabilities of Ethereum and Synthetix.
Supported by some of the biggest names in crypto, including Framework Ventures, Three Arrows Capital, BlockTower Capital, DACM, Maple Leaf Capital, Cluster Capital, Lemniscap, LD Capital, IOSG Ventures, NGC Ventures, Bitscale Capital, Divergence Ventures, Genblock Capital, Trusted Volumes, Altonomy, Continue Capital, The LAO, bitfwd (比特未来) and Loi Luu, Co-Founder and CEO of Kyber Network,
Join the dHEDGE community on Discord, Twitter, Telegram English language, Telegram Chinese language and on WeChat.
DHT tokens are a means by which users may utilise the protocol. dHEDGE DAO does not recommend purchasing DHT for speculative investment purposes. DHT tokens may lose value or have no value and may have no market.
