Votingautomaton.eth

Vote Delegation
56

Proposal: Whitelist SPELL token (SPELL) Plus 1M BNT Co-Investment Limit

While the SPELL team has not yet publicly acknowledged the proposal via Twitter, there is an open channel of communication open between them and the Bancor core contributors. Moreover, Nate Hindman’s Tweet about the IL exposure on Sushiswap garnered some helpful attention, and others in the DeFi community have commented on the suitability of SPELL for whitelist status out of their own volition (see: here, here, here, here, here, here, here, here, here, here, here). The community sentiment is overwhelmingly positive. The project is similar to MakerDAO, in the sense that issues debt/over-collateralized stablecoins, (MIM).

The team distribution of SPELL is a little on the high side, 30%, half of which is to be issued over the next year - which is a little fast. The proposed co-investment is reasonable; the total market capitalization of SPELL is nearly $1B, so $4M in co-investment is far from obscene. There are no apparent security risks or incompatibilities with either the project or the token. The distribution metrics are less than perfect, but not alarming. The Automaton will vote FOR SPELL whitelist status.

Proposal: Whitelist Auctus Token (AUC) with 100k Co-investment

AUC is among the veteran token projects, and a longtime friend of the Bancor Protocol. A liquidity pool for AUC was established in 2018 (see: here, here, here, here, here, here, here, here, here, here, and many, many more). It was big deal to be part of the birth of DeFi, and it is exciting to be welcoming the Auctus team and project back to enjoy the benefits and features of v2.1. The team has acknowledged the proposal on Twitter, which satisfies the prerequisite. The AUC token is well distributed and established, very secure, and has no compatibility problems with the Bancor ecosystem. The project has pivoted from pension/retirement products, to American options (in contrast to European options, such as offered by UMA). The market capitalization is relatively low ($3.5M), and the proposed co-investment is appropriate for the scale of its economy. The Automaton will vote FOR whitelist status of the AUC token.

Proposal: Extend LM Rewards on Aave Pool (2nd extension)
Proposal: Extend LM Rewards on SNX Pool (2nd extension)
Proposal: eRSDL Open Market Purchases via Bancor
Proposal: Extend LM rewards on Stable Coin Pools (USDT, USDC, DAI) for 12 weeks
Proposal: Reallocate LM rewards on EDEN pool to 100% BNT - 0% EDEN

The Automaton’s logic on LM extensions is as follows:

if PriorLM == False and StrategicPool == True:
FOR
Elif PriorLM == True and TKN == 'LINK', 'WBTC', 'ETH', 'USDC', 'DAI', 'USDT':
FOR
Else:
AGAINST

The Automaton will vote as follows:

  • AGAINST extending rewards on AAVE
  • AGAINST extending rewards on SNX
  • FOR the eRSDL deal, involving open market purchasing of eRSDL in connection with its Saas licensing fee proxy program.
  • FOR extending rewards on USDC, USDT, and DAI.
  • FOR reallocation of LM rewards on EDEN.

Proposal: Increase Co-investment Limit to 300k on the FRM pool

The automaton will vote FOR an increased single-sided capcity in the FARM pool.

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