Proposal: Whitelist Saffron Finance (SFI) + 250k Co-Invest
The obligatory Tweet from the Saffron Finance main account has been confirmed. The reasoning for the co-investment number is sound; the proposal suggests to capture 30-50% of the total DEX liquidity for SFI, which is well within reach given the size of the largest pools on Uniswap and Sushiswap. The Voting Automaton will vote FOR the whitelisting status of SFI.
Proposal: Extend LM Rewards on ENJ (Enjin) Pool
Proposal: Extend LM Rewards on Alpha Pool
Proposal: Extend LM Rewards on WOO Pool
Proposal: Extend LM Rewards on MATIC Pool
Liquidity Mining Extension for BTC/ETH/LINK
Proposal: Activate Greatly-Reduced LM Rewards for LQTY
Voting logic for staking rewards looks like this:
if PriorLM == False and StrategicPool == True:
FOR
Elif PriorLM == True and TKN == 'LINK', 'WBTC', 'ETH', 'USDC', 'DAI', 'USDT':
FOR
Else:
AGAINST
Therefore, the Voting Automaton will vote AGAINST extensions to Alpha, Enjin, Woo and Matic, and vote FOR the extensions to wBTC, LINK and ETH.
The rewards schedule for LQTY is among the first to be held to the disambiguated voting rules for first-time staking rewards:
The staking rewards proposal discusses only TVL. As outlined above, this automatically triggers an AGAINST vote from the Automaton.
Proposal: 500K UMA Co-Investment Increase / UMA Treasury Match
Proposal: Increase ICHI Co-investment from 350k to 700k + 0.3% Trading Fee
Increase co investment on FTT (FTX TOKEN) to 350,000 BNT
Proposal: Increase Co-investment Limit to 500K BNT on QNT (Quant) Pool - 2nd Attempt
All co-investment increases are reasonable, and justified. Unlike the LM rewards, use of the co-investment to drive competitive liquidity depth to Bancor is highly cost efficient, and completely unique to our platform; staking rewards are everywhere. As noted on the most recent community call with our guest from UMA - the treasurer at UMA had his “mind blown” by the single-sided capacity of Bancor’s liquidity provision, and which is supporting the contribution of DAO funds. In short, all of the proposals for increased single-sided capacity discuss competitive depth and reference the appropriate data, which satisfies the requirements of the Automaton. The only additional item is the concomitant change in the fee for ICHI, which is in range:
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
Therefore, the Automaton will vote FOR the co-investment increases on UMA, ICHI, FTT and QNT.