QIP052: Whitelist Julien Bouteloup to Purchase Qi KPI Options

This proposal is to whitelist Julien Bouteloup to purchase $500,000 worth of Qi KPI Options.

Background

Through QIP036, the DAO approved the minting and sale of UMA KPI Options to align incentives with strategic partners. All partners must first be whitelisted through a governance vote before acquiring KPI Options.

QiDao has set aside 4.8M Qi for this purpose. The target tenor of this program is 18 months, after which the KPI options will be redeemable for Qi tokens. These KPI Options tokens will have a minimum value of 1 Qi each — but if the KPI increases, they will pay out Qi in proportion to the KPI target being met (up to 2 Qi).

Partners can choose to rollover their options for another 18 months after expiry to achieve a higher KPI metric and payout.

The price of each KPI option is the 14-day TWAP for Qi at the time of whitelisting approval.

Motivation

Julien is a prolific builder and a thought leader in the crypto space. He’s involved in Curve Finance, founder of Stake DAO, Blackpool, and Rekt. Aligning incentives with him would be beneficial to the DAO in the following ways:

• Helping with implementing our Curve rewards strategy, through lobbying as well as planning
• Increasing synergies between his projects and QiDao starting with Stake DAO (i.e. building more use cases for MAI, introducing QiDao to new communities)
• Onboarding him as a community member to help brainstorm strategic decisions, and leverage his network in the DeFi space

Twitter: https://twitter.com/bneiluj

Quorum Standards

Single choice voting: the option with the most votes will be adopted.

Options

• Whitelist Julien Bouteloup
• Further discussions needed