[FIP 016] - Mint FLOAT for Olympus Pro Bonds and Visor Finance Integration

Following the discussion under FIP 016 on the forum and discord, it is proposed that we mint up to 600,000 FLOAT. Half of it would be used to reward the upcoming FLOAT-ETH bonds. The other half will be LPed into any whitelisted protocol.

Motivation

The Protocol currently has a Basket Factor of ~140%. We can utilize this extra basket factor to mint up to 600,000 FLOAT. Half of it is to be used to cater for the FLOAT-ETH bonds. Thus, users would bond FLOAT-ETH LP in exchange for vested FLOAT at a discount. Any new FLOAT minted should not decrease the Basket by more than approximately ~20% so the new Basket Factor after the mint of the new FLOAT the Basket Factor would be approximately 120%. The FLOAT-ETH LP would be from Uniswap v3 liquidity provision via Visor Finance who have already created a management strategy for us. The other half will be LPed in order to both boost liquidity and liquidity and generate additional yield earned by the protocol.

The Vote

Vote Yes, to approve all. Vote No, to do nothing.