LIP-012: cLQDR contract ownership transfer

Proposal : Decide cLQDR’s future:

1. DEUS Finance takeover
2. Beethoven-X takeover
3. Revenant Labs takeover
4. Make cLQDR a public good

Background:

Last March Growth DeFi launched cLQDR on the Fantom network. cLQDR is an interest bearing and transferable version (wrapped synthetic derivative) of xLQDR. Users can deposit their $LQDR into the contract in order to mint cLQDR. The $LQDR deposited into the contract is permanently locked as xLQDR on the back end, and the daily rewards are automatically compounded through the buyback and burn contract. As a result, cLQDR is appreciating over time against LQDR.

The Beethoven X metastable pool technology, which maintains an evolving peg between $LQDR and cLQDR, ensures the exit liquidity option. This flexible and innovative solution allowed cLQDR to become the biggest xLQDR holder.

Growth DeFi, however, recently shifted its operational strategy and chose to terminate all of its operations on the Fantom network, including the development of cLQDR. This affected numerous retail and protocol stakeholders for whom LiquidDriver and Growth DeFi jointly agreed on a long-term solution with the relevant parties in mind.

In addition, the cLQDR contract is a strategic asset because it entitles its holder to:

• Voting power in LiquidDriver’s governance proposals due to xLQDR being the governance token of LiquidDriver.

• (Upcoming) Voting power to redirect $SPIRIT emissions: LiquidDriver is currently the largest inSpirit holder through linSpirit (35% of the total supply). The upcoming implementation will allow xLQDR holders to vote for $SPIRIT emissions using their holdings as a proxy.

• (Upcoming) Voting power over $LQDR emissions: Holders of xLQDRs will be able to vote and redirect $LQDR emissions thanks to the Master Gauges solution.

Resources:

Each protocol interested in controlling the cLQDR contract has been participating in the community driven process. Each of them presented their comprehensive proposals for discussion and attended an AMA organised by LiquidDriver. You can find all the details using the links below:

DEUS Finance:

• Proposal: https://medium.com/@deusfinance/clqdr-stewardship-proposal-by-deus-finance-a5d2dbe5d5ad
• Discussion Channel: https://discord.com/channels/834025857801781298/1029323282933104650/threads/1029331002763513856
• AMA : https://odysee.com/@LiquidDriver:0/Deus-AMA-2022-10-13:9

Beethoven X:

• Proposal: https://snapshot.org/#/beets.eth/proposal/0xd5a83aa35a60b03f8d9fcda8a46c09f23b62a7374381ba12a0d5cc4da15037e0
• Discussion Channel: https://discord.com/channels/834025857801781298/1029323282933104650/threads/1029330637838110800
• AMA: https://odysee.com/@LiquidDriver:0/Beethoven-AMA-2022-10-14:7

Revenant Labs:

• Proposal: https://docs.google.com/document/d/19-Lc2IwYiOcWIhOL5T5tfJ889bDd5UI7qbT-51Qfqng/edit
• Discussion Channel: https://discord.com/channels/834025857801781298/1029323282933104650/threads/1029399483236221020
• AMA: https://odysee.com/@LiquidDriver:0/Revenant-AMA-2022-10-14:a

Public Good option:

• Proposal: https://docs.google.com/document/d/11mVkjcFLJfa5c8i_Sei_tGL2mNEdPmVakzRvz7Ldb5w/edit
• Discussion Channel : https://discord.com/channels/834025857801781298/1029323282933104650/threads/1029330284270850048
• AMA: You can tag SafeRatios for important questions regarding the proposal.

Please cast your vote:

1. DEUS Finance takeover
2. Beethoven X takeover
3. Revenant Labs takeover
4. Make cLQDR a public good