Protocol investment in TOKE
Right now we are holding FXS in the protocol treasury and not using these funds seems like a waste. So i propose we invest the treasury FXS holdings in TOKE so it can start earning us some more rewards.
The rewards should then be split 50/50 50% is used to buy FXS on the open market and this is used as extra rewards for veFXS holders 50% is used to increase treasury holdings of profit making or governance type assets which could include paying for bribes, buying ETH, or buying voting power in other protocols when needed.
The upside to this is. increased rewards for veFXS holders increased assets for the protocol increased buying pressure of FXS on the open market there is no time lock so assets could be removed if better options come along
The down side to this is. the increased amount of FXS staked in TOKE will likely reduce the APR% for all investors (but investors are not locked in) we will be taking on some extra risk by staking in another protocol.
FOR = start staking AGAINST = do nothing
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x68e9...558b66 | 345,237 | AGAINST |
 0x3c28...4997A6 | 327,582 | AGAINST |
 0x614D...562adE | 114,882 | AGAINST |
 0x33dc...D56B4A | 66,346 | FOR |
 0x31fC...Fdc54e | 15,609 | AGAINST |
VOTE POWER
Proposal Status
- Thu October 28 2021, 11:00 amVoting Period Starts
- Wed November 03 2021, 12:00 pmEnd Voting Period
Current Results
1-AGAINST
839,171.289
2-FOR
92,192.637