Securing Protocol Rewards – Operational & funding request

Author: AL #4105 Gotchi ID: (#10504) Securing Protocol Rewards – Operational & funding request Sigprop summary (important parts):

Buyback schedule specifications for buying $GHST protocol rewards outlined in AGIP65. This includes consideration of a non-linear 18-month buying schedule with a 2-month long multiplier for purchase amounts to coincide with the liquidity mining plan, and the funding of an automated smart contract to execute purchases with various features. More details below:

INTRO

Per AGIP65 25% of the unlocked $DAI reserves from the retired Bonding Curve are supposed to be allocated for securing protocol rewards in the form of rarity farming rewards. To meet this goal, the CTT recommends internally developing operations standards for actually following through on this request.

1. Protocol Rewards Purchasing Program:

The main aspects voters should consider in this proposal involve establishing a buying schedule for $GHST as well as how to best execute purchases for the DAO.

Filling the rewards pool is proposed to start once the curve closes & operations are in place to buy $GHST, with a planned duration in mind of no more than 18 months to conclusion. We are also proposing that the DAO implement a non-linear approach to daily/weekly purchases.

For voters this would mean commitment to a 2-month long multiplier for every purchase, in line with the liquidity mining schedule outlined in AGIP67. We believe that this is the best way to quickly accumulate $GHST reserves and turn our stable assets into ecosystem rewards.

It is also recommended, but not proposed, to establish responsibilities within a long-term treasury management team for projection modeling to ensure that the DAO is closely following a buying schedule. There will be some aspects of maintenance in such a long-term program.

2. Smart Contract

The proposed smart contract will ensure a secure environment for buying protocol rewards while ensuring Foundation users have the tools needed to buy protocol rewards in $GHST.

This proposed tool will be designed by CTT member @Bearded Gotchi Vault, and will undergo review by members @Sudeep, @MaxiCrouton and other critical members prior to implementation for production.

The expected contract deliverable will have the following features available for its DAO users:

• Gelato automation tooling
• Ability to choose purchasing between different DEX pools for best rate discovery
• Adjusting the timing in between purchases & amounts of buybacks
• Toggling for slippage rate tolerance
• Automated reporting for accounting and proof of purchase

• potential for future iteration and optimization development through the DAO bounty program or other funding opportunities.

Funding Request:

We are seeking a separate request of $5000 DAI (or $5000 worth of $GHST) to complete this contract as it will require ongoing maintenance and wasn’t anticipated in AGIP66 when the team was funded to conduct market research mainly.