Establish BMI liquidity

Goal: Improve growth of BMI by establishing liquidity or utility as collateral

BMI has been launched for awhile now and remains to be a great product. However, current state of BMI does not invite growth of the protocol and TVL due to liquidity issues. BMI supply has gradually decreased to 5.7M at the time of writing.

Presently, there are only two ways to acquire/dispose of BMI: social OR whale mint/burn. Due to recent gas prices, it is understandable that devs decided to shift the criteria of social mint/burn to 'within 48 hours of deposits reaching 100k'.

However, in the practical sense, this means that small players are faced with significant cost when entering/exiting BMI. This consist of transaction costs and opportunity costs. When a protocol is only conducive of whale trading, it becomes the antithesis of DeFi and DAO, which were assumed to be the direction of BasketDAO.

Establishing BMI liquidity solves this problem by allowing the token to be traded freely on DEX without the need to wait for social mint/burn. This allows the protocol to grow further and become more responsive of market conditions. For example, during the most recent market dump, it can be safely assumed that the market would be more inclined to deposit in safe yield generating protocol like BMI, if there were sufficient liquidity on the open market.

This grows the protocol by enhancing its market utility and invites exponential market interest. When the market can quickly acquire/dispose of BMI token, trading activity will increase and assist in the growth of this protocol.

Devs have stated in the Discord server that there are no plans for BMI liquidity. For reasons stated above, this has caused the protocol to be stagnant as TVL continues to decline.

Another consideration would be the utilisation of BMI as collateral. As a relatively safe asset, BMI appears to be a good fit for said utility. Leveraged borrowing using BMI may also generate interest in acquisition of the token.

The devs are encouraged to consider the outcome of this vote and incorporate DAO suggestions into current roadmap.