Allocate funding to acquire MORPHO/WETH via Thick DEX
What is Morpho?
Morpho.org 🦋 is the biggest isolated lending platform in defi with nearly $3,000,000,000.00 USD worth of deposits. The token was distributed to Lenders & will be made transferrable on 2024-11-21.
Why to fund?
This is part of the recent initiative to direct Treasury exposure towards prospective wealth generation opportunities, which ultimately underpin the value of $ELITE via perceived valuation models. We believe $MORPHO is a Billion Dollar opportunity and the initial volatility is the best way to acquire a stake as well as strengthen Volume & Fees inflows to our DEX, as well as the Markets that build on top of them, such as Equalizer on Base
How to reach goals?
The funds will be actively managed to acquire as much MORPHO at the lowest possible prices. This strategy is akin to buying veEQUAL off lazy airdrop dumping farmers who just want to cash out some $$$ without paying heed to valuations & its future prospects.
When does this happen?
On Thursday 21st November, 2024. We will start our ops around the same time.
Where?
Equalizer Market has already whitelisted MORPHO and is collaborating with Gamma.xyz to incentivize MORPHO/WETH-1% CL Pool on Thick v1, our DEX.
Voting
Who can vote?
Votes have been allocated roughly based on $USD denominated value accrual across multiple projects of ours, along with "Eliteness Level" (v1 Voting Power). The goal of this pilot proposal is to capture a vast user base as an invitation to participate in future proposals by acquiring ELITE, and as such seeks to involve other communities for amplified awareness and exposure.
How to get Eliteness Levels?
Eliteness Levels are automatically accrued by virtue of holding, in chronological order, ELITE, XELITE, ELITE/FTM LP on SpookySwap, SushiSwap, Ser Andre's Solidly, Solidex (solidSEX), Equalizer & ELITE/EQUAL LP on Equalizer, both in wallet and Staked. This is the original governance power model at Guru Network.
Future Votes
To Continue to participating in all Future Proposals, we recommend Voters to obtain $ELITE tokens on Fantom and have a say in our Treasury's future.
How many votes?
- Eliteness Level : 800,000 votes, scaled across outstanding supply (270)
- eTHENA Stakers & Farmers : 40,000
- ELRamses Stakers & Farmers : 10,000
- veSCALE, Equalizer on Base: 50,000
- veEQUAL, Equalizer on Fantom: 50,000
There are roughly a total of 1,000,000 votes in total.
Voting Choices
As per the recent treasury review, there is a $500,000 fund available to pursue prospective ventures.
Voters can select any one of the following 6 options for funding this proposal.
- $0 (0%)
- $5,000 (1%)
- $10,000 (2%)
- $15,000 (3%)
- $20,000 (4%)
- $25,000 (max, 5%)
Voting will stay open for 24 hours from now, due to the tight schedule of this arranagement.
We encourage you to join our discord to further this discussion and to help shape our future proposals!
Off-Chain Vote
$0 = 0%
0 ELITENESS0%
$5,000 = 1%
0 ELITENESS0%
$10,000 = 2%
0 ELITENESS0%
$15,000 = 3%
0 ELITENESS0%
$20,000 = 4%
1.33 ELITENESS0%
$25,000 = 5%
56.44K ELITENESS100%
Quorum:42%
Timeline
Nov 19, 2024Proposal created
Nov 19, 2024Proposal vote started
Nov 20, 2024Proposal vote ended
Dec 03, 2025Proposal updated