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DaiquilibriumDaiquilibriumby0xEAA1d9Bc9661AD0348d31627773Cb260261955eE0xEAA1…55eE

Boot.Finance to be approved as Dev partner for Daiq

Voting ended almost 5 years agoSucceeded

Boot finance was engaged to produce a custom stableswap pool as part of the passed DAIQ proposal, DAIQIP-10 https://discord.com/channels/798383549362864199/806874768245522493/806893626159923292.

The Boot Finance part of that proposal has been finished for weeks, unfortunately, there is nobody currently dev'ing the Daiq part of that proposal as the original developer is currently too busy to take on that responsibility. As such, Boot finance is proposing a short-term temporary engagement as the development lead for DAIQ, in order to get DAIQIP-10 into production so all daiq holders can finally experience DAIQ getting back to peg.

A short term roadmap to get daiq back to peg;

  • LP/DAO expansion rewards changed form 60/40 to 90/10
  • Sales tax set to flat 1.5% of sells - distributed to LPs - no fee for buyers
  • DAIQ Buyers get 1 DAIQ coupon for every 10 DAIQ bought under 0.995. Coupons expire in 30 days and are redeemable above 1. All other DAIQ coupons removed, no other way to get coupons. Existing coupons burned
  • Removal of all lockups for both LP and DAO
  • Migration of DAIQ to L2 chain with additional farming incentives, i.e. more than just DAIQ rewards.(currently forecasted to be SKL)
  • Migration of ETH DAIQ to SKL DAIQ at 10 ETH DAIQ for 1 SKL DAIQ.

Possible medium term roadmap;

  • A factor split between above the peg and below the peg at different A factors, very aggressive below the peg and less aggressive above the peg.
  • If price falls below 0.985, then linear arb pool activates, and coupon incentive pool shuts off. Linear arb pool allows DAIQ to be redeemed for DAIQ at $1. All redeemed DAIQ can be sold when DAIQ above $1.

As part of this proposal, boot finance proposes that in exchange for temporarily taking over the main dev duties, and executing the roadmap as mentioned above. Boot finance shall be paid 20k DAI + 20k DAIQ on the 15th of each month as a development fee for taking over these duties.

Off-Chain Vote

Approve Boot.finance
230.29K 44.9%
Status Quo
283.06K 55.1%
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Timeline

May 04, 2021Proposal created
May 04, 2021Proposal vote started
May 07, 2021Proposal vote ended
Oct 26, 2023Proposal updated