Votingautomaton.eth

[mbr]

Proposal to Increase Co-investment for DRC to 50,000 BNT

The Voting Automaton will vote FOR the proposed increase in single-sided staking capacity.

Proposal to Whitelist Efinity (EFI) by Enjin

The Voting Automaton will vote FOR the whitelisting status of Enjin’s EFI token.

Proposal: Activate LM rewards for AMP-BNT pool with an Eight Week Duration + 2M BNT Co-investment Limit

The Automaton’s behavior on liquidity mining proposals has recently been clarified:

@mbr

Liquidity Mining: Conservative

The Voting Automaton will vote to activate liquidity mining incentives on pools where there is a clear and present motivation to do so. The Voting Automaton rules for liquidity mining were updated on 6th August 2021 to reflect the changing culture, and Bancor’s maturing presence in Defi. The following criteria are not stringently applied, but represent the general approach:

• The Automaton will no longer support liquidity mining proposals for the sole purpose of attracting a higher TVL; this is an important consideration, but insufficient to support a liquidity mining proposal alone.
• Therefore, proposals that simply ask to grow a pool to competitive levels will no longer be considered a compelling argument. Liquidity providers on Bancor already have the the benefit of substantially improved yields compared to our competitors, and liquidity mining incentives should no longer be considered the default approach to expanding the network. Whitelisting is a strong value offering unto itself, and continuing to apply staking incentives to encourage liquidity provision undermines that value.

The Automaton will vote for any liquidity mining proposal that has established a tangible benefit to the health of the protocol. Liquidity mining incentives will be treated as an expense, and will require a sound financial justification as to how the additional costs can be recuperated, if not entirely, then at least in part. The precedent established by the staking incentives campaign for the $FARM token is an important one. In general, the Voting Automaton will vote against liquidity mining proposals, including extensions, on any pools that aren’t of special strategic importance. The notable exceptions are: $ETH, $LINK, and the USD stable coins, which serve another purpose entirely.

The AMP proposal is unique, in the sense that the rewards do not activate until after BNT becomes a supported asset on the Flexa payments network. Since this adds additional, long-term utility to the BNT token, the value proposition of the LM campaign is justified. Further, the fact that if BNT is not supported, that LM rewards will not activate, is a great implementation of LM rewards as an incentive to drive collaboration. Therefore, the Automaton will vote FOR the LM incentives on the AMP token, on the provision that BNt is an approved asset on the Flexa Network.

Proposal: Whitelist $ONE (Harmony) - 150K BNT Co-Investment

The Voting Automaton will vote FOR the whitelisting status of Harmony ONE.

Fee Change on FTT (FTX TOKEN) to .5%

The proposed fee change is in-range. The Voting Automaton will vote FOR the proposed change to 0.5% swap fee on the FTT pool.

Proposal to Whitelist $MONA (DIGITALAX) - 150K BNT Co-Investment (Second attempt at quorum)

As before, the Voting Automaton will support the whitelist status of MONA.