SBP1 - Feature Prioritization

Summary

Choose between allocating product, engineering, and design resources to develop Snowbank Pro Max (protocol-owned liquidity product for DAOs - similar to Olympus Pro), or to develop a borrowing feature that would, amongst other potential interest-bearing tokens, allow staked Snowbank (sSB) to be used as collateral to borrow other tokens.

Motivation

Currently, despite having Snowbank Pro Max smart contracts ready and functional, we lack sufficient partners to launch the product with. We are building a competent team inside Snowbank Labs (DAO) to manage DAO to DAO Business Development & Partnerships, that will inquire about partners and generate leads for upcoming Snowbank Pro Max cohorts.

This process will take a while to get started, because the team needs to get up to speed and build sufficient knowledge about policy levers (BCV, maximum payout, bonds budgeting), and they will need to lobby partners who may have lost trust in Snowbank as an entity.

We believe that we should allocate resources towards building a new product that will meet strong product-market fit on the Avalanche network. For our “Borrow” feature, we don’t plan to simply fork Abracadabra features, and prefer to create something more exciting, new and unique in the space. We’ll assess what we can deliver based on the latest technology, Snowbank’s existing assets, and we’ll focus our efforts on things that genuinely matter — with a primary goal of boosting value for $SB holders. We will also commit to our steps for better communication and transparency by keeping the Snowbank community updated as development progresses.

Proposal

Prioritize the launch of Snowbank Pro Max, despite the absence of partners, or allocate resources towards defining, developing, and launching a unique borrow feature.

If we chose to work on developing “Borrow”, we would allocate the majority of our resources to ensuring that the feature is new and innovative, and the remaining development resources to launch Snowbank Pro Max as soon as a cohort of 4 partners is formed, while the development of our “Borrow” feature continues.

Vote

• Option 1: Prioritize Snowbank Pro Max
• Option 2: Prioritize Borrow