Liquidity Manager / FRENS Committee

Author: FRENS Committee Gotchi ID: 3541 Discourse Thread (Idea/Proposal): https://dao.aavegotchi.com/t/committee-idea-liquidity-managers-for-managing-the-frens-s-of-liquidity-pairs/1905 Discourse Thread (Candidates): https://dao.aavegotchi.com/t/frens-committee-applications/1944

Problem To incentivize liquidity on QuickSwap, you can earn additional FRENS rewards for staking Liquidity Pool (LP) tokens on the Aavegotchi website. Depending on the risk of Impermanent Loss (IL) these numbers can vary, originally it was +35% for GHST-QUICK, +20% for GHST-ETH and +10% for GHST-USDC. Because the rates have to be manually adjusted and prices have moved quite a bit since this was introduced, the FRENS rewards are off by quite a lot; GHST-QUICK is at around +90%, while GHST-USDC earns -10%.

Solution Quoted from coderdan: "There has been talk of setting up committees for managing certain parts of Aavegotchi, and I believe this could be an interesting candidate for such a committee. Right now we only have two [now three] pairs incentivized by FRENS, but this could change in the future.

The “committee” could be a multisig of at least nine (maybe up to fifteen) members with strong reputation in the community and high Gotchi dependability counters. At its core, this Liquidity Committee would monitor and adjust FRENS rates to keep in check with the pre-determined rate, by performing contract calls to the GHST Staking contracts only available to a new “rateManager” role created for the committee."

For now the committee should just have one job - keeping the FRENS rates up-to-date. In the future this could be extended to partnerships, monitoring of FRENS inflation, etc.

Candidates Two weeks ago we created a Discourse thread (linked above) for interested parties to apply as candidates. Since then 11 people have applied. All candidates have been members of the community for a while and put forward good reasons as to why they should be chosen. As this is still within the range of 9-15, the easiest way would be to form the committee with all applicants.

So now it's up to you, AavegotchiDAO. Should we take this step in further decentralizing Aavegotchi and put the FRENS rate into the hands of:

Angst, Jarrod, Kenymccornick, UnfitStone, Notorious_BTC, Doxy, Kokusho, Grip, Almond-Stew, Shanekoy and Moon