Proposal: eRSDL LM extension proposal (2nd attempt)

For this proposal to pass, it requires 35% quorum and 66.7% supermajority.


  • The LM Rewards will be extended on the eRSDL Pool.
  • The current reward rates for the pool will be unaffected.
  • unFederalReserve is requesting LM of 2500 BNT per week (5000 BNT with multiplier) for 8 weeks
  • If approved, unFederalReserve will continue to use the Bancor pool for the open market purchasing of eRSDL in connection with its Saas licensing fee proxy program.
  • Integrate Bancor’s api and vault to ReserveLending in preparation for Bancor’s upcoming V3


  • eRSDL Open Market Purchases. unFederalReserve management is impressed by both the Bancor platform and the Bancor community. They would like to continue to use the Bancor pool in connection with its Saas licensing fee proxy eRSDL open market purchase program, and LM would allow increased TVL and decreased slippage.
  • The eRSDL open market purchase program corresponds to the use of digital markets, denominated in eRSDL, used to record the licensing subscription of our software by various operating entities. Purchasing of eRSDL out of the market will be done at regular intervals coinciding with the level of borrowing across our products. Terms may vary.
  • UnfederalReserve has listed Bancor as a place to swap BNT on Furthermore, UnfederalReserve is planning on integrating Bancor swaps as well as single-sided staking on the eRSDL-BNT pool from their platform.

We understand that Bancor is working on Bancor V3, and we will be in touch with the team as soon as details are out to seek out room for further cooperation.

The eRSDL pool has a liquidity of $5,258,459.27 right now.


Figure 1 - eRSDL-BNT pool size [1]

The pool has been bringing consistent volume of at least $2m per week for the past 4 weeks.


image923×461 17.5 KB

Figure 2 - Weekly fees from the eRSDL-BNT pool

Vote FOR: Extend LM on the eRSDL pool at the amounts listed above in exchange for using the Bancor pool for open market eRSDL purchases.

Vote AGAINST: Do not extend LM on the eRSDL pool.


Thank you for the proposal!

For context, the LM extension is being proposed again as most of the team and some community members were attending DCentral Miami. Therefore, Snapshot participation was lower than usual and the proposal didn’t meet quorum.

Can you clarify what this means?

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Adding screenshots for volume and fees on the eRSDL pool since the fees image was missing from the first post:

The data above starts on the week of 9/27.

The total fees on this pool as compared to others that have had LM in the past (since the week of 9/27):

symbol total_fees
NDX 5705.241865543881
UNI 8404.71476965945
ZCN 17031.789923276243
COMP 17509.97534157084
AAVE 25314.986821441747
ERSDL 26613.977493739676
MPH 27205.082179786343
MKR 28786.32659807466
ALPHA 36619.280745013
YFI 41559.77036098172
GRT 47549.29817715071
FARM 54224.956211275305
EDEN 83144.0873296851
SNX 95249.47488923182
REN 97034.52151364558
MATIC 100598.04709740612
OCEAN 108264.03882395184
ROOK 161821.86032843613
WOO 164566.96477469
BAT 174632.02301382154
wNXM 476337.396712662
ENJ 1021564.1513386039

has it ranked towards the bottom 1/3rd.

Some napkin math:

5K BNT * 8 weeks = 40K BNT Total
30% of BNT rewards go towards the TKN side or roughly 12K BNT
12K BNT at $3.50 (roughly current $BNT price) = $42K

In my opinion, I would like to see more volume before another round of LM.

This is an interesting one.

I think the goal for LM should be to try and capture the majority of liquidity depth, and volume. Having a protocol (eRSLD) direct buybacks to our pool is good, but once we dominate the liquidity, then the logical choice for them would be to use the deepest pool (so, not a strong bargaining chip for additional rewards).

Compared to the Uni v2, the BNT pool has double the AUM, but 50% of the volume.

Considering that the eRSDL:BNT pool looks full of eRSDL, I would prefer to increase the capacity and then consider LM rewards to try and drain the Uni v2 pool to further capture AUM and volume.

I’m voting AGAINST this proposal but would vote for a larger pool with LM restarting.

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I don’t think you are wrong and we should look at increasing the co-investment on this pool from 500K BNT to 1M BNT. There is certainly almost no space available right now and we should try to capture some of the LPs from Uniswap that might be interested in moving to Bancor by opening additional capacity.

Can you look at putting in a proposal to increase the co-investment on this pool? Thanks!

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