A 👻 becomes a $BANKster? - [FIP 006] - Treasury Diversification Continued

Add Stani Kulechov, Founder and CEO of Aave, as a strategic partner participating in the treasury diversification?

Summary

This vote follows up FIP 006 - Treasury Diversification on the Forum and Treasury Diversification Snapshot vote.

As part of onboarding strategic partners into the Float ecosystem the Protocol has offered to swap up to 25,200 BANK tokens from its treasury for ETH with key builders and prominent figures in the DeFi space. Vote Yes to add Stani Kulechov of Aave as a strategic partner participating in the treasury diversification; vote No if you are not in favour of Stani Kulechov participating in the treasury diversification.

Motivation

This proposal is intended to aid with development of Float Protocol and allow it to both prosper and solidify its position within DeFi by onboarding prominent members of DeFi into the Float ecosystem. This treasury diversification provides the Protocol with funds to pay for the necessary costs (node providers, hiring, Community incentives etc.) to allow Float Protocol to reach its full potential without additional price pressure on BANK.

Adding Stani Kulechov, Founder and CEO of Aave as a strategic partner will greatly benefit Float Protocol given Stani’s experience in building high calibre platforms (Aave) and his prominence in the DeFi space.

Terms

The terms of the treasury diversification are the same as those laid out previously, they are here for reference:

• Up to 25,200 BANK tokens from the Treasury (~15% of total BANK token supply)
• The precise amount allocated to each strategic partner is left to the core team based on individual circumstances and to allow some privacy, but no partner will receive more than a 2.9% allocation of total supply.
• $50 per BANK token in return for 1 year lock-up on BANK
• Inability to stake locked tokens
• Voting power in the Float Protocol DAO according to locked tokens
• On chain via a smart contract
• All the addresses are on chain and will be whitelisted for the swap with the treasury. Strategic partners are allowed to create fresh addresses.

Final Remarks

From the beginning, ever since Float Protocol’s democratic launch, one of the main aims of the Protocol has been to get supporters for the long haul. These key DeFi participants and builders shall be advocates, advisors, strategic partners and resilient supporters of the Protocol over the long term. These strategic partners have been chosen for numerous reasons, namely, their experience in the crypto ecosystem and their rare expertise in building high-calibre platforms for web3. The diversification of the treasury will aid with potential integrations further down the line and allow the Protocol to hire and incentivise Community members as we grow towards becoming the unit of account of the crypto economy.

The Vote

Vote Yes to add Stani Kulechov as a strategic partner and participant in treasury diversification, vote No if you are not in favour of Stani Kulechov participating in the treasury diversification.