Phase 4 (III) checkup poll & FIP 013 Bond Pilot:

This vote captures FIP 013 - BANK Bonds for Owning AMM Liquidity and a checkup poll on continuing with the current rewards:

Phase 4 (III) rewards have been going fairly well, the multiplier pools are maintaining liquidity while also keeping the rewards juicy for long-term stakers. The current rewards are:

• 200 BANK per week to BANK-ETH sLP pool
• 400 BANK per week to FLOAT-ETH sLP pool
• 200 BANK per week to FLOAT-USDC LP (Uniswap v3 + Low fee) pool
• 40 BANK per week to BANK-only pool

Shall we continue with the current rewards?

Current rewards + Bonds Pilot

The Protocol has been in discussions with Olympus DAO and their bonds pilot programme (see FIP 013 - BANK Bonds for Owning AMM Liquidity). Participating in the bonds programme provides the opportunity for the Protocol to own its own liquidity rather than renting it, as well as introducing a new financial product to the Float ecosystem.

To participate in the Bonds Pilot programme the Protocol would allocate 800/BANK per week for 4 weeks from its treasury for BANK-ETH LP bonds. The Protocol would also continue current Phase 4 (III) distribution. The BANK distribution would be as follows:

• 800 BANK per week to BANK-ETH sLP Bonds
• 200 BANK per week to BANK-ETH sLP pool
• 400 BANK per week to FLOAT-ETH sLP pool
• 200 BANK per week to FLOAT-USDC LP (Uniswap v3 + Low fee) pool
• 40 BANK per week to BANK-only pool

Alternative Rewards + Bonds

To reduce the inflation of BANK but still continue with the bonds programme, another option is to reduce the rewards sent to the pools alongside the Bonds. The Proposed distribution would be as follows.

• 800 BANK per week to BANK-ETH sLP Bonds
• 400 BANK per week to FLOAT-ETH sLP pool
• 100 BANK per week to FLOAT-USDC LP (Uniswap v3 + Low fee) pool
• 40 BANK per week to BANK-only pool

Assessment

Based on success metrics we leave the option to halt the Bond issuance by community vote. Such evaluation criteria may be:

Liquidity Value (at End Price) - Emission Value (at Launch Price).

• +% (amazing but unlikely, will transfer significant additional liquidity),
• neutral (great, will transfer additional)
• -10% to - 20% (pretty good, will likely transfer additional)
• over -20% (borderline, will have to take stock to evaluate).

The Vote

You may select a single option from:

Option 1: Continue with current BANK rewards but, do not participate in Bonds pilot.

Option 2: Continue with current BANK rewards and participate in Bonds pilot.

Option 3: Alternative BANK rewards and participate in the Bonds Pilot.

Option 4: Do Nothing.