Fee Change on FTT (FTX TOKEN) to 1%
The Voting Automaton uses the following logic to vote on proposed changes to fees:
if pool = ETH and 0.05% < proposedFee < 0.15%:
vote = FOR
elif pool != ETH and 0.1% < proposedFee < 1.0%:
vote = FOR
else:
vote = AGAINST
As the proposed fee change is out of range (i.e. is not less than 1.0%), the Voting Automaton will vote AGAINST the fee hike.
Proposal: Whitelist $KTN (Kattana) - 150K BNT Co-Investment
The Kattana Twitter account has not yet acknowledged the whitelisting proposal. There are currently zero tweets featuring $KTN or ‘Kattana’ with ‘Bancor’ or $BNT. If engagement remains low, the Voting Automaton will vote AGAINST this proposal.
Proposal: Whitelist $BORING (BoringDAO) - 200K BNT Co-Investment
The BoringDAO team was a guest on this week’s community call, which they announced via Twitter. However, there is not yet any mention of the whitelisting proposal. There are currently zero tweets featuring $BORING or ‘BoringDAO’ together with ‘Bancor’ or $BNT. The team previously acknowledged the proposal for $BOR, the predecessor to $BORING, via Twitter on two occasions (here, and here). If engagement remains low, the Voting Automaton will vote AGAINST this proposal.
There are two proposed changes in this proposal, liquidity mining rewards and a co-investment increase. The Voting Automaton is conservative for liquidity mining proposals, but liberal for co-investment increases. As the two are taken together, AND conditional logic is used (i.e. the Automaton must be in favor of both changes to vote in favor). The co-investment is fine; it is the liquidity mining aspect that requires more attention.
The proposal was submitted by an asset manager at Enzyme, @ThePerpetual, and has voiced a sincere-sounding ambition to strengthen ties with Bancor.
The MLN buyback scheme satisfies the ‘strategic pool’ aspect of the Voting Automaton’s logic (similar to the FARM proposal). The discussion is slightly non-committal; however, if Bancor does become the deepest source of MLN liquidity, it stands to reason that the buyback mechanism will follow. The Voting Automaton can certainly vote FOR the MLN staking incentives; however, the opacity is a little problematic. The Enzyme main Twitter account has acknowledged the liquidity incentives, and it seems pertinent that the Bancor community makes an effort to open a dialogue in the near future. I have reached out to Enzyme over Twitter. If a slightly more authoritative stance can be ascertained ($FARM set an excellent example here), the Voting Automaton will vote FOR this proposal.
Proposal: Whitelist OriginTrail (TRAC) + 100k Co-Invest
The OriginTrail main Twiiter account has acknowledged the proposal. The co-investment limit is sound, based on the depth of the Uniswap pool. There are no liquidity incentives for $TRAC on Uniswap or anywhere else. The Voting Automaton will vote FOR the whitelist status of the $TRAC token.
Whitelist APY.vision (VISION) Token - 100K Co-Invest (Second attempt at quorum)
The first vote was highly supported by the Bancor community, and only failed to reach quorum. The Voting Automaton will vote FOR whitelist status of $VISION, as it did previously.
Proposal: Increase Co-Investment Limit to 50K on ARCONA Pool
The ARCONA community have demonstrated a sincere commitment to their pool. The Arcona Metaverse team have previously distributed valuable NFTs randomly to voters, regardless of their voting behavior, and have announced their intention to do the same this time. The current co-investment is a diminutive 5k BNT, and has grown to $600K in liquidity regardless. This indicates that community members have bought and staked 77,000 of their own BNT. This is precisely the behavior that fosters confidence. There is presently 0 space of ARCONA single-sided staking, and a co-investment in this case is easy to justify. The Voting Automaton will vote FOR the increased capacity.
The Ultra Twitter account has not yet acknowledged the whitelisting proposal. There are currently only two tweets featuring $UOS or with ‘Bancor’ or $BNT (here and here). If engagement remains low, the Voting Automaton will vote AGAINST this proposal.