FIP-0001

Overview: This proposal's main intention is to improve the rate at which the treasury can grow organically, with less reliance on new bond issuance.

Objective: To add new treasury bond options as listed below:

• wMEMO
• SPELL-sSPELL LP (replacing sSPELL)
• wFTM
• tSHARE

wMEMO: Rationale: Capital Dilution is becoming a key concern with so many OHM forks popping up, not only in FTM but other ecosystems as well.

What is capital dilution? In the current model, bonders have the choice of either bonding $1 to TIME's treasury or $1 to all other forks. Stakers also have the choice of buying either TIME or FHM. By adding wMEMO to the treasury, we have the option of making this $1 be part of both treasuries (hence mitigating capital dilution). As wMEMO is poised to auto-rebase and increase in price, our treasury will grow as well, which reduces the need to constantly issue bonds at a discount, minimising dilution to stakers.

We intend to be fairly aggressive in the early stages in acquiring wMEMO, so that it makes up a decent portion of our treasury rather than being an insignificant %. We believe issuing bonds to acquire wMEMO will be worthwhile to stakers in the long run for reasons outlined above.

SPELL-sSPELL LP: Rationale: To boost yield on SPELL, by accruing trading fees on top of the price exposure. We believe SPELL-sSPELL has negligible impermanent loss anyway.

wFTM: Rationale: We believe FTM is currently undervalued as an L1 due to its low gas fees (looking at AVAX gas fees recently). As more and more forks and projects pop up on FTM, the demand for FTM should rise, which benefits our treasury, creating organic growth in a similar fashion to wMEMO.

tSHARE: Rationale: We believe Tomb.Finance is an innovative protocol that pegs its token, $TOMB, to FTM. Due to reasons outlined above, $TOMB should rise in price, together with FTM. $tSHARE is the tokenized version of TOMB-FTM LP that issues rewards in $TOMB when staked. We believe issuing $tSHARE as a bond and thereafter staking it in Tomb.Finance should allow us to farm $TOMB (and by proxy, FTM) at an inhumane pace to add to the treasury. Also do note that Tomb.Finance has one of the largest TVL's in the FTM ecosystem, still paying out >500% apr in $TOMB rewards. The decision of selling these $TOMB rewards vs compounding by converting them into more $tSHARE will be at the discretion of the strategy team, with inputs from the community. Obviously, since our main aim here is to grow the treasury, not dumping $TOMB (pegged to FTM) serves that purpose.

Closing remarks: We, as the strategy team, intend to actively manage the exposure that our treasury has to each of these volatile assets, based on % composition, macro landscape as well as basic risk management principles (sharpe ratio, L1 fundamentals etc). The community's inputs will be listened to, eg. if they feel that a certain asset has run up a lot and it is time to take profit, or if it is time to accumulate more. We will also endeavour to build a simple frontend dashboard that showcases key info such as % breakdown by asset in the treasury.

Please select the bond option(s) that you would like to greenlight. We would appreciate your approval for all 4 as each bond option serves its own purpose.