Congruent TAP 003 - Tokemak Whitelist and Reactor Proposal

1.0 Tokemak Introduction

Tokemak aims to “generate deep, sustainable liquidity for DeFi '' using the growth of web3. It is essentially a decentralised market maker which operates above other decentralised exchanges allowing the protocol to provide and route liquidity to the easiest and cheapest source. Protocols seeking liquidity that is whitelisted will be included in a C.o.R.E (Collateralisation of Reactors Event). The protocol captures fees from providing liquidity across DeFi allowing Tokemak to build a strong reserve of various assets (Protocol Controlled Assets) which in the end will be controlled by TOKE holders through decentralised governance.

2.0 Tokemak Whitelist Proposal Brief

2.1 Values/Incentives:

1. Liquidity providers (LPs): LPs are rewarded in % APR in the form of TOKE.
2. Liquidity directors (LDs): LDs are rewarded in % APR in the form of TOKE.
3. Pre-liquidity deployment (cycle zero): This was enabled for early movers who can earn the first emissions of TOKE by staking in the ETH, USDC, TOKE, Sushi LP and Uni LP
4. LP Safeguarding: Maintain or increase the PCA (system reserve) - Pull operational surpluses and system revenue into PCA
5. Guardrails: Restrictions imposed on a protocol limiting the maximum amount of assets deployed per individual token reactor (asset pairs) and deployment cycle. This functions to manage risk by ensuring mitigation mechanics are effective within predetermined market conditions

2.2 Proposed Allocation: $1,500,000 (Maximum)

2.3 Proposed Holding: $3,000,000 (Maximum)

3.0 Tokemak Reactor Proposal Brief

To use wsGAAS for our LP side of the reactor. This allows any Congruent holder to continue to earn rewards on those wrapped and staked idle assets. We would be getting rewards from 4,4 and from LP on our reactor, assuming a reactor is acquired.

4.0 Proposal Details

The Link to the detail of the Proposal:
https://docs.google.com/document/d/1he-kZfU5tTgt3GXdwbV7NpA3mSPuEEyHfiYxeZtkY98/edit?usp=sharing

5.0 Voting Details

Minimum required quorum - 6% of circulating supply Minimum required voting to pass - 80% in favour Before wsGaas lock contract is available, users who hold wsGaas are able to vote. The voting lasts for 72 hours. Yes - Stands for Agree No - Stands for Disagree