Proposal to Determine Whitelisting Status of OCEAN on Bancor V3

DAO Archive (SUBMITTED)
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Proposal to Determine Whitelisting Status of OCEAN on Bancor V3

This proposal is expected to appear on Snapshot for voting on June 19, 2022 (Lisbon) . Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision. To pass, this proposal needs a quorum of 35% and 66.7% FOR votes.

TL;DR

  • BIP17 allowed for the migration of all active V2.1 pools to V3
  • The DAO’s whitelisting requirements are here
  • There are certain cases in which tokens were whitelisted before these requirements were in place.
  • This proposal is for the DAO to vote specifically on some of these pools where the token contract may add significant risk.
  • NOTE: These exceptions are only possible for tokens that were whitelisted in V2.1.
  • Other tokens that were not whitelisted on V2.1 have no such exemptions as they were not live on Bancor before the whitelisting requirements were in place.

Summary:

  • As outlined in the recent blog post there are 9 tokens that will be each brought up specifically for the DAO to vote on a white listing in V3.
  • This proposal is for OCEAN
  • OCEAN’s token contract allows for self-destruct - which would kill the pool on Bancor
  • Link to contract: $0.20 | Ocean Token (OCEAN) Token Tracker | Etherscan

Voting Instructions:

To whitelist OCEAN on Bancor V3, vote FOR this proposal

To do nothing, vote AGAINST this proposal

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I’ll vote in support of OCEAN - even in this market crash - over 1 million staked - they support us, I support them in return

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Thanks for your support.
We’ve been in Bancor since the very start and would like to be whitelisted into Bancor V3.

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To everyone here, I’d like to give you a background on this topic.

OCEAN token contract has mint, suspend and self-destruct until the final 51% minting, after which all admin keys will be removed.

We didn’t want to touch the contract if we didn’t need to and we wanted to do everything at once to minimize risks. The barrier to removing all admin keys are twofold - first, we want to have full legal and tax clarity on transferring token minting rights to the oceanDAO, second, we want to ensure that the Data Farming program has been tested and validated.

There is no way to remove the suspend and self-destruct individually from the minting, so we’re stuck with the current state until the last mint.

We’re aiming for the 51% minting to happen in 2022, sooner rather than later. In the meantime, we are finishing the Ocean ONDA V4 launch and all the great adoption programs for Ocean.

Bancor and Ocean have been great partners since Bancor’s launch. We were one of the initial launch tokens and we put our whole community behind Bancor.

Thanks for all your support. Looking forward to even better things in the future!

3 Likes