MFP#18: Do you support this proposal to launch first affiliate campaign?

full details & discussion around this proposal can be found here https://github.com/enzymefinance/MFP/issues/18

Background: The general idea for an Enzyme affiliate/referral program had been lightly brought up and supported in past Enzyme Council discussions (initially by Will Harborne) It was formalized and discussed with ENZIP 13 (enzymefinance/ENZIP#13). Which resulted into MFP 17 (#17) and its passing governance. The above has led to this current proposal.

Description of the project: We propose to run a referral program in a 6-month campaign. After a few iterations and discussions with the team, the design chosen is as follows:

Objective: introduce new vault owners to Enzyme How: by rewarding existing users for valid referrals Terms & Conditions: see "Guidelines & T&Cs" below with details on eligibility, payouts & restrictions, as well as disclaimer Synergies/benefits to the Enzyme ecosystem Key benefit: growth in number of vaults on the platform, leading to TVL growth (item further developed in MFP 17)

Token use Users initiating valid referrals are eligible for rewards in MLN tokens (T&Cs apply):

A) an immediate payout (success fee) upon creation of a vault (30 days later) B) possibly a bonus payment 6 months later - depending on the vault’s AUM level at that moment Timeline The design is ready. As we opted for a “low-tech” version, the implementation is ready as well. Upon a successful vote, the program can be launched within a few days. The program is designed as a 6-month campaign. As we’ve introduced a cap in the MLN funding for the program, the campaign could also end sooner.

Funding needs For the 6-month campaign, we propose to set aside a budget of MLN 25,000 (about $500,000 at the average MLN price over the past 6 months) This figure has been derived from the following parameters & assumptions:

Each successful referral would result in the following outflows (cf. details in T&Cs): A) immediate rewards between $100 and $200

amounts based on benchmark for customer acquisition costs and similar programs in fintech B) a chance to get bonus rewards between $200 up to $1,000

bonus levels set so that they don’t exceed what the vault would pay as protocol fees within the 6-month period. We made some rough assumptions as to the number of participants: 10% of users making 2 referrals each, with 50% of referrals eligible for a bonus.

Team presentation (Same as in MFP17)

Projet coordinator = osaat Project sponsor at the Enzyme technical council = Avantgarde Finance Referent person at Avantgarde Tech = Mona El Isa Contact information Remarks on the program? please comment below Other questions about the project? TG: @ oSaaT2

Draft for Guidelines & T&Cs // final version to be released at launch

Guidelines to participate (T&Cs below apply) You have an organization or a person in mind who should be a vault owner? It could be someone on the treasury committee of a DAO (or its CFO), a manager looking to launch a fund… You only need to decide what option suits you best:

do you want to send them over to Avantgarde for onboarding (cf. “lite” in T&Cs)? → Put us in touch per email with the contact person Remember to mention your Enzyme wallet address to get your rewards

or you wish to help them create the vault directly (and be eligible for “full” referral)? → Let us know per email once the vault is created Remember to mention your Enzyme wallet address to get your rewards

Both for the rewards and the later bonus, there are minimum levels of AUM that the vault should reach to be eligible. Please check the full T&Cs below.

T&Cs: Disclaimer We reserve the right to cancel, modify or terminate the Program at any time for any reasons. Eligibility Referrer: any user of the Enzyme platform (manager or depositor) can become a Referrer the address must have been active on Enzyme up to 30 days prior to program launch New vault: to be valid, a Referral must have led within 30 days to a minimum initial AUM of $10k (or equivalent value in tokens) “lite” Referral = user sends a qualifying prospect to Avantgarde; onboarding handled by Avantgarde “full” Referral = vault created directly by new owner, with the eventual assistance of Referrer to be eligible for bonus payment (cf. bonus details below), 6 months after creation, new vault’s AUM must be at least $100k (or equivalent value in tokens) Restrictions & limitations limit of 5 Referrals per user (address) per 30-day period program duration of 6 months (or earlier if budget cap is reached) global limit of 25,000 MLN allocated to the program Payout(s) for a valid Referral (cf. criteria in Eligibility & Restrictions above):

(A) one-time payout as success fee funds sent to Referrer’s address paid 30 days after vault creation paid in MLN tokens using average MLN price over past 30 days to determine payout amount for “lite Referral”, amount = $100 equivalent for “full Referral”, amount = $200 equivalent (B) bonus payment, AUM-based $100k < AUM < $500k ⇒ 100% bonus (of “full Referral”) $500k < AUM < $1m ⇒ 200% bonus (of “full Referral”) AUM > $1m ⇒ 500% bonus (of “full Referral”) AUM < $100k ⇒ no bonus funds sent to Referrer’s address paid 180 days after vault creation paid in MLN tokens using average MLN price over past 30 days to determine payout amount Other T&Cs Program monitoring: under responsibility of Enzyme Council, delegated to a Program manager