Proposal: Whitelist index (INDEX) with 200K BNT Co-investment

@OverAnalyser was present on the most recent community call, and gave a general overview on what is clearly a sincere project with reasonable goals and serving a clearly defined purpose. INDEX is a governance token that is essentially responsible for the management of the coop (standard governance token), which oversees a collection of indices and a margin lending product. The token itself is vanilla erc20, the distribution schedule looks standard, and overall it appears like a good whitelisting candidate.

The Index Coop Twitter account has not yet acknowledged the whitelisting proposal. There is about 1 day left on the proposal at the time of writing. The Automaton generally requires acknowledgement on social media to support whitelisting. The Index Coop Twitter account has tweeted about its own governance affairs (see here, here, here); it is reasonable to assume it could raise awareness for this one too. The Automaton will vote in favor of whitelist status for INDEX once the proposal is acknowledged on Twitter.

Proposal: Whitelist ($APW) / 250K BNT Co-investment (2nd attempt)

This is the second attempt at whitelisting APWine. Previously the Automaton voted against whitelist status, owing to a contract upgradability issue. This was the only reason the Automaton did not vote in favor of the last proposal.

The APWine team have now addressed all relevant security problems, and the token is noweligible for whitelisting. The APWine Twitter account has supported their proposal with two tweets (here, and here), and has received positive community feedback (here). The Automaton will vote FOR whitelisting APWine.

(BIP) Increase Vortex Burner to 15%

The Bancor Vortex is a feature unique to Bancor, which provides liquidity providers access to a kind of fast credit, or alternatively, an interest- and liquidation-free leveraged liquidity provisioning product. Use of the Vortex by LPs creates an opportunity for the Bancor Protocol to reduce its liabilities and increase its own assets by using a small portion of swap revenue to buy and destroy vBNT. The rate at which this burn is performed has been a source of heated debate. When the Vortex was established, it was espoused that a target 20% of swaps should be used to fuel the vortex burn; however, such a target should be met slowly, and after the bootstrapping phase of the protocol was completed. The Vortex was launched with a 5% burn rate, and was increased to 10% by the DAO in June; a proposal to increase the burn rate to 20% was also considered at that time.

All things considered, an increase from 10% - 15% is not dramatic (compared to 5% - 10%, or 5% - 20%), and the current proposal has not received the same level of opposition (or any noticeable opposition) by the community. The Automaton is stated as being Liberal for protocol upgrades and maintenance categories, to which this proposal ought to belong. Taken together, the community sentiment, and health of the protocol generally, suggest an increased burn rate would likely be a welcomed change, or at the very worst a benign change.

The Automaton will vote for an increase in the Vortex burn rate to 15%.

Proposal to Whitelist Etherisc DIP Token (DIP) with 200K BNT Co-investment

The Etherisc team have Tweeted about the proposal (twice). The DIP community has also been vocal about their ambition to establish a whitelisted pool on Bancor for some time. The list of tweets is unusually long, and overwhelmingly positive (here, here, here, here, here, here, here, here, here, here, here, and many, many more.)

DIP has previously been considered by the BancorDAO for whitelist status on multiple occasions. It was first considered in February 2021, when voting was still conducted entirely on-chain. It has also appeared on Snapshot twice before the current proposal, in March 2021, then in April 2021. In all of these voting periods, the supermajority requirements were met, but not the quorum requirements. The current proposal is slightly non-identical, as the proposed co-investment has been increased.

The Automaton will vote FOR whitelist status of the DIP token.