Eth to Ribbon

TLDR: For: 100 ETH into T-STETH-C Against: No ETH into Ribbon For: 200 ETH into t-STETH-C

Due to the fact, that the following strategy is not "lossless" we, the team, have decided to make this a binding snapshot proposal.

As things are now, only Kraken NFT holders can vote, but there are 74 NFTs in circulation now and we hope a large amount of them will vote.

This proposal comes from the following post.

🎀🎀🎀🎀🎀🎀🎀🎀🎀🎀🎀🎀🎀🎀🎀 CerCephla: Been talking to Julian from Ribbon Finance. IF we were to put at least 100ETH into the T- STETH-C call vault, we would get between 10-30% APY (including the stETH growth)

The option to put 200ETH is to warrant the gas cost further, but will not have any change on the benefits outlined below.

There might be quantity loss, but the call premiums would likely make up for this in the short term. Call options only run for 1 week, so this reduced the change of them going Into The Money a fair bit.

I think this is a risk worth taking for the marketing.

NOTE: For those that check, the t-STETH-C vault is currently full, but this will change this week when they increase the allowances

Ribbon will 🎀RT our announcement. 🎀Add us to a blog post in production of "Treasuries that Vault with RIbbon" 🎀Produce the above blog as a Twitter 🧵 🎀Consider a "Partners" section on their homepage.