Prop-015 - Allocate 15% of xBOO buybacks into POL
This vote is an official version of a popular Proposal made by the Community: https://vote.spookyswap.finance/#/proposal/0x95bbbda49e70217e339700140e6de46dc703d11d34979f2149f68899579ca66a
Due an issue with our vote counting, BOO located in Solidly and Solidex were not able to vote, the vote failed to reach Quorum. As such, after talking to the community we decided to redo the vote after fixing the counting issue and try it again!
Description from previous vote, modified to be 15%:
Currently, as it stands, the xBOO contract is creating a lot of fees that go entirely to holders, this seems great for investors, but it offers the platform almost 0 value as a long term investment.
Therefore, I propose that 15% of xBOO buybacks will go into the SpookySwap treasury as FTM-USDC LP.
While in the short term it may seem like investors are losing some value, this would in turn improve longevity of the protocol and ensure its survivability through any type of market.
TL:DR Direct 15% of xBOO buybacks into protocol owned liquidity consisting of FTM-USDC, a rotation could also be done every month into other blue chip asset liquidity e.g. FTM-BTC, FTM-ETH, and similar.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x1b51...AA9Fac | 505,783 | Aye, convert 15% to FTM-USDC LP |
 0x3a77...0D0110 | 19,478 | Aye, convert 15% to FTM-USDC LP |
 0x5Aa0...Ba0Feb | 17,486 | Aye, convert 15% to FTM-USDC LP |
 0x7F75...c18301 | 12,671 | Aye, convert 15% to FTM-USDC LP |
 0x2031...0BD1Db | 11,979 | Aye, convert 15% to FTM-USDC LP |
VOTE POWER
Proposal Status
- Mon February 28 2022, 05:00 pmVoting Period Starts
- Fri March 04 2022, 05:00 pmEnd Voting Period
Current Results
1-Aye, convert 15% to FTM-USDC LP
633,028.773
2-Nay
29,370.246