Request For Funds: Market Maker || System 9

https://system9.io/

Total Amount Requested: $600k

Breakdown of funds: It is important to note that $400K is used as capital for trading with System 9. The $400K in capital is still owned by the Beefy DAO treasury and will be delivered back to Beefy at the end of the Market Maker agreement.

• $200K in BIFI
• $200K in stable coin

Call Option: Part of the market making agreement is a $200K BIFI call option by the market maker. Beefy will put aside this $200K in BIFI in order to be accessible in order to accommodate the call option. The call option price will be at the average between the day's high and day's low on the effective date (UTC) on the highest volume exchange where your token is traded (converted into a $ price).

Agreement Scope: Crypto.com and Binance pairs, each pair requires $200k in liquidity. If Beefy achieves new pairs and we require market making on those pairs and additional $200K will need to be provided.

60/40 Split: System 9 is unique in that it shares its Market Making profits with users. We will receive 40% of the market making profit from System 9 on a monthly basis. We will also get monthly reporting on how the market maker is preforming.

Additional Exchanges: Market makers work with a variety of exchanges and we will have access to introduction to those exchanges through System 9.

Execution Timing: System 9 requires a 48hr prep time once funds are received. If this proposal is approved we can expect to launch the market making services 48hrs later.

Why is this important? In order to continue to gain additional exchange listings and pairs we need to have a liquidity and volume. It is also important for us to keep our Chainlink price feed which enables BIFI collateral options. Currently, our organic liquidity on Binance is low. Our volume is generally low and large orders get hit with good slippage. The market maker will improve our 2% depth and create markets that are easier to buy into. The market maker does not influence price action.