Setting APYs on farms
From Ethereum Mainnet to layer 2 contracts...
At the point when the vote is executed on Ethereum mainnet, information about APYs to be set on the farms are passed through the mainnet farms as well as polygon farms
Setting APYs on Ethereum Mainnet farms
A vote such as below dictates how much APY to set for our IbAlluoXXX farm. https://vote.alluo.com/#/proposal/0x3923acef8207d12525c51adbabd5fca2e82f52ed58e5c2b5ae0ab12f1f723b11 Then on chain, we immediately set the interest rate to the approved APY.
Setting APYs on Layer 2 farms
Today we have farms on Polygon and Optimism. Setting APYs on these through a decentralised process requires two steps
Execute the vote on Ethereum mainnet and then use a cross-chain messaging protocol such as AnyCall (Multichain).
On receipt of the cross chain data on layer 2 (ex. Polygon), set the APY.
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