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TimelessTimelessby0x2364963e6b99281DEF39AEda6a8aCEE790d93AF40x2364…3AF4

Should Timeless use the oLIT redemption fund to start a bribing fund and diversify into swETH

Voting ended almost 3 years agoFailed

Question: TRC 43 - Should Timeless use the oLIT redemption fund to start a bribing fund and diversify into swETH

Choice 1: Yes Timeless should the redemption fund as outlined in the proposal

Choice 2: No this is not the way

Reference : https://gov.timelessfi.com/discussion/11325-trc-43-timeless-treasury-diversification-strategy

Summary: This a proposal to allocate 40% of the oLIT Treasury to bribe matching. This is roughly 175 ETH at the time of writing. Also included in this proposal would be a 10% allocation of the ETH into swETH which at the time of writing is 40 ETH.

The main purpose of these two decisions is to:

  1. Include Timeless in the Swell Network Airdrop
  2. Bring more revenue to the protocol for veLIT holders by using 40% of the redemption fund for bribe matching
  3. Add a treasury holding of 40 eth into liquid staked swETH

Off-Chain Vote

Yes, this is the way
451.06K veLIT44.6%
No, this is not the way
560.36K veLIT55.4%
Quorum:87%
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Discussion

TimelessShould Timeless use the oLIT redemption fund to start a bribing fund and diversify into swETH

Timeline

May 24, 2023Proposal created
May 24, 2023Proposal vote started
May 27, 2023Proposal vote ended
Oct 26, 2023Proposal updated