KIP-11: Co-invest ROOK in Bancor ROOK-BNT Pool

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This is an apparent consensus vote.

• Vote 'No objection' if you agree with the proposal.
• Vote 'Object' if you disagree with the proposal.

Discussion If voting ‘Object’ to the proposal, you are encouraged to voice your reasoning on the KeeperDAO Forum. Objections that are backed by a strong argument may potentially hold more weight than a simple objection vote.

• (link) KIP-11 on Github
• (link) KIP-11 on the governance forum
• (link) KIP-11 on Discord

Results KIPs that receive > 50% ‘No Objection’ votes do not automatically pass. On completion of the vote, ‘Object’ votes will be analyzed and discussed by the KeeperDAO team and community. If a significant number of objections occur, the vote will either be marked as ‘Failed’ or enter a reconciliation phase. For more information, see the KeeperDAO Governance Beigepaper.

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Proposal

This proposal seeks to co-invest $1.6M in KeeperDAO Treasury ROOK (approx. 6400 ROOK) by staking it in the ROOK-BNT pool on Bancor. This proposal is contingent on Bancor approving an their matching governance proposal to increase in the co-investment limit from 1.3M BNT to 2.1M BNT and approve LM rewards for the ROOK-BNT pool.

Background

Bancor, a long standing integration partner and home for staking ROOK, has offered to increase their co-investment in the ROOK-BNT pool on their platform. Currently, they have already invested 1.3M BNT into the pool, and are offering to add additional BNT to bring the total to 2.1M BNT. Bancor is leaving additional room in the pool for other ROOK holders to join the pool.

There is currently ~1.3M BNT and ~22K ROOK tokens in the BNT-ROOK pool. This has resulted in a pool that has roughly ~11.2M in liquidity.

This is favorable because:

• More liquidity in this pool should drive more volume through it, resulting in additional fees (APY) for current ROOK stakers.

• This makes unproductive ROOK in the treasury generate yield.

• Deepens a relationship with a good partner by creating a win-win.

Specification

Deposit 6400 ROOK from strategic reserves into the ROOK-BNT pool on Bancor.