[Provisional Proposal] BSN Allocation for dETH Integration in DeFi

Proposal Discussion
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[Provisional Proposal] BSN Allocation for dETH Integration in DeFi

Introduction

This provisional proposal aims to outline a plan for allocating up to 100,000,000 BSN tokens from the Blockswap DAO treasury to an intermediary holding contract. The intended purpose of these tokens is to facilitate the deep liquidity of dETH throughout DeFi. The community has previously expressed interest in a Curve pool, specifically the dETH:frxETH pairing, which has been taken into consideration for this proposal. This proposal serves as a vote to allocate BSN tokens for dETH’s absorption into DeFi.

Objective

The primary aim of this proposal is to expedite the process of ensuring dETH integration. By allocating BSN tokens for this purpose, the DAO can effectively support liquidity and distribution strategies.

Motivation

Creating dETH liquidity is crucial to the long-term success of Stakehouse protocol. As demand for dETH grows, stakers will be encouraged to participate by creating newly minted dETH. The DAO can position Stakehouse LSD Networks as a key player in the DeFi ecosystem as the most articulate method of liquid staking.

There are many great options to support dETH liquidity through the BSN token. This could be done through Curve or any other protocol which could make dETH readily available. All ideas are welcome.

Implementation

  • Allocate 100,000,000 BSN tokens from the DAO treasury to a holding contract for the purpose of increasing demand for dETH through incentives.
  • The DAO can determine the best place to provide BSN incentives for dETH liquidity.
  • Enable further adjustments and decisions on BSN distribution details through Snapshot voting.
  • Set a 180-day expiration to allocate tokens. Afterward, any unallocated tokens will be returned to the DAO.
  • Blockswap Labs will be entrusted with all execution, implementation, communication, design, and everything else that goes with the campaign. This will be done to the best of their ability and contingent on what is technically and logically possible.

Conclusion

This provisional proposal aims to bolster dETH’s position within the DeFi ecosystem. The community can continue deliberations and decide on the best method of use of the allocated BSN. As the campaign unfolds, efforts will focus on achieving favorable outcomes for Stakehouse protocol and Blockswap DAO.

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