This proposal is expected to appear on Snapshot for voting on [date=2021-11-28 time=17:00:00 timezone=“Europe/London”].

For this proposal to pass, it requires 35% quorum and 66.7% supermajority.

TLDR

• The LM Rewards will be extended on the eRSDL Pool.
• The current reward rates for the pool will be unaffected.
• unFederalReserve is requesting LM of 2500 BNT per week (5000 BNT with multiplier) for 8 weeks
• If approved, unFederalReserve will continue to use the Bancor pool for the open market purchasing of eRSDL in connection with its Saas licensing fee proxy program.

Justification

• eRSDL Open Market Purchases. unFederalReserve management is impressed by both the Bancor platform and the Bancor community. They would like to continue to use the Bancor pool in connection with its Saas licensing fee proxy eRSDL open market purchase program, and LM would allow increased TVL and decreased slippage.
• The eRSDL open market purchase program corresponds to the use of digital markets, denominated in eRSDL, used to record the licensing subscription of our software by various operating entities. Purchasing of eRSDL out of the market will be done at regular intervals coinciding with the level of borrowing across our products. Terms may vary.
• UnfederalReserve has listed Bancor as a place to swap BNT on https://unfederalreserve.com/. Furthermore, UnfederalReserve is planning on integrating Bancor swaps as well as single-sided staking on the eRSDL-BNT pool from their platform.

We understand that Bancor is working on Bancor V3, and we will be in touch with the team as soon as details are out to seek out room for further cooperation.

The eRSDL pool has a liquidity of $5,258,459.27 right now.

Figure 1 - eRSDL-BNT pool size [1]

The pool has been bringing consistent volume of at least $2m per week for the past 4 weeks.

image923×461 17.5 KB

Figure 2 - Weekly fees from the eRSDL-BNT pool

Vote FOR: Extend LM on the eRSDL pool at the amounts listed above in exchange for using the Bancor pool for open market eRSDL purchases.

Vote AGAINST: Do not extend LM on the eRSDL pool.

[1] Bancor: Converter 683 | 0x2ee4b38a3afed00b66f45ad3a849d091d7aacccb