Would it make sense to prevent converting above peg to target a certain Silo APY in the future?
- Inflating the Bean supply is not always great/optimal for the system
- There are certain instances where the Bean seigniorage can be put to great use
- There is value in some guaranteed yield from the Silo
- If people are using the non-yield bearing currency then there is no reason to encourage the yield bearing form of the currency
Is it okay for the Silo yield to be different than the risk-free rate of dollars?
- From a competition standpoint if dollars are permissionless on-chain it would be hard to imagine people preferring Beans pegged to dollars over dollars. Right now there are no dollars on-chain.
- You do not need the SIlo yield to compete.
- The Field is close to the issuance of Treasury notes
- Beanstalk cannot buy Pods on the secondary market
- The Silo is close to a bank account in the current system
- If the dollar was deployed on-chain it would probably be done in a centralized way
- There will always be things that drive demand for Bean and other things that will drive demand for the dollar