# Proposal: Repatriate PDI funds from external IL protection **URL:** \ **Category:** DAO Archive (SUBMITTED)\ **Created:** [July 28, 2022, 12:18am UTC](https://gov.bancor.network/t/proposal-repatriate-pdi-funds-from-external-il-protection/3947 "2022-07-28T00:18:05Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![Oliver](https://avatars.discourse-cdn.com/v4/letter/o/85f322/32.png) [@Oliver](https://gov.bancor.network/u/Oliver)\ **Post date:** [July 28, 2022, 12:18am UTC](https://gov.bancor.network/t/proposal-repatriate-pdi-funds-from-external-il-protection/3947/1 "2022-07-28T00:18:05Z")
# Proposal: Repatriate PDI funds from external IL protection For this proposal to pass, it requires a 35% quorum and 66.7% supermajority. This proposal is expected to appear on Snapshot for voting on 2022-07-30T23:00:00Z. Make sure to stake your vBNT for voting before this date to participate in the DAO decision. We originally allocated $25k for external IL protection for PDI our leading DeFi index comprised of the top assets from within the sector. > [@Proposal to onboard PDI with 100k BNT trading limit](https://gov.bancor.network/t/proposal-to-onboard-pdi-with-100k-bnt-trading-limit/3577): > > Proposal to onboard PDI with 100k BNT trading limit For this proposal to pass, it requires a 35% quorum and 66.7% supermajority. This proposal is expected to appear on Snapshot for voting on 2022-05-07T23:00:00Z (UTC). Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision. TL;DR Proposal to whitelist PDI (Phuture DeFi Index) before it launches on Ethereum mainnet PDI offers exposure to the top crypto assets by market capitalisation in the decen… Now that Bancor no longer mints new BNT to cover ILP it has removed the threat that new pools may impose on the BNT price. As a result, we would like to retrieve these funds so that we can put them to better use attracting new PDI holders, through either the joint rewards programme or another channel. Reasons for removing the external IL funds: - IL burden on the BNT price has been significantly removed/mitigated. - PDI is made up of the top assets in defi which have all moved out of their price discovery phase so it shouldn’t be considered a “new” asset. - External IL funds can be used to more effectively bring new PDI holders into our Bancor pool. For example, by using the funds to participate in the joint rewards programme or providing rewards for holding PDI through other channels. - Given our company size it is important we minimise the opportunity cost of any allocated funds. The PDI attributed to the external IL fund can be re-purposed for a higher ROI without being concerned that the PDI pool is causing increased stress on the BNT price. For: Approve repatriating the PDI funds in the external IL vault to the Phuture team Against: Do not approve the repatriation of the PDI funds in the external IL vault to the Phuture team ---
**Author:** ![foxsteven](https://avatars.discourse-cdn.com/v4/letter/f/838e76/32.png) [@foxsteven](https://gov.bancor.network/u/foxsteven)\ **Post date:** [July 28, 2022, 5:31am UTC](https://gov.bancor.network/t/proposal-repatriate-pdi-funds-from-external-il-protection/3947/2 "2022-07-28T05:31:16Z")
> [@Oliver](#): > > External IL funds can be used to more effectively bring new PDI holders into our Bancor pool. For example, by using the funds to participate in the joint rewards programme or providing rewards for holding PDI through other channels. Very interesting point you raise here. @Oliver - if you would like this on Snapshot on Sunday the 31st pls make a quick note at the top of the proposal. ---
**Author:** ![glenn](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/glenn/32/1720_2.png) [@glenn](https://gov.bancor.network/u/glenn)\ **Post date:** [July 28, 2022, 8:40pm UTC](https://gov.bancor.network/t/proposal-repatriate-pdi-funds-from-external-il-protection/3947/3 "2022-07-28T20:40:01Z")
> [@Oliver](#): > > PDI is made up of the top assets in defi which have all moved out of their price discovery phase so it shouldn’t be considered a “new” asset. Looks good to me and I would like to highlight the above which is the case here. External ILP allowed Bancor to list riskier assets and going forward can also serve the purpose of mitigating any pool deficits (if any) for LPs as well.