Thank you,
By farming, I’m referring to the intrinsic productivity discussions. So, the token would be minted using wBTC, ETH, DPI, cDAI and Link. And this is what we would guarantee to return at redemption. Hopwever, we can remove say the ETH, and exchange for ibETH or yETH, any income from that would go to the coop treasury. This has the potential to be larger than the streaming fees.
An alternative is to build a fund out of purely income generating tokens (yETH etc) but this get closer to a security in the US, and how do we predict the best option for long term holders. The structure above gives pure passivee ownership (with a little income on the stable coin) - This is closer to a TradFi 80:20 with shares and Bonds.
The Income generating stable coin is up for discussions. cDAI has the most liquidity ($1.2 Billion !!!). BUt we can easily use others. We could split between options, but that adds more tokens to buy to mint the fund token.
Link is tricky, it’s undoubtedly had a huge run, and adds significantly to the back test performance when rebalancing every month. But broader middleware could be an idea.
I’m not good at the meme game. I prefer “It does what it says on the tin”