Summary

Discourse link: here

This proposal has been curated as per the consensus gained in the previous EOI.

A Rari Fuse Pool has recently been established composed of ETH, USDC, and TCR. The pool is here: https://app.rari.capital/fuse/pool/112. If this proposal succeeds, Tracer DAO will seed this market by depositing 100,000 USDC equivalent into the pool, split evenly between the three tokens. This would facilitate the lending and borrowing of TCR.

Rationale

A Rari Fuse Pool (#112) has recently been established for TCR composed of ETH, USDC, and TCR. This pool (consisting of TCR) will allow for the users to borrow against their TCR, in addition to lending TCR in a capital efficient manner. However, since the launch of the pool there has been no initial token deposits. This is understandable given the high opportunity cost of not depositing in the Tokemak Reactor or staking for Tracer governance. Given that it is likely that no TCR holder will make the first deposit into the pool, the Tracer DAO Treasury is required to get the market off the ground. The proposed 100,000 USDC equivalent worth of tokens (split evenly between ETH, USDC and TCR) will be a sufficient amount to bootstrap the market.

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Consideration

If this proposal succeeds, the following consideration will deployed:

1. 100,000 USDC transferred from the Tracer DAO into the Rari Fuse Pool (#112) for TCR (combining of ETH, USDC and TCR).

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Deliverables

If successfully voted on, this proposal will deploy:

1. 33,333 USDC equivalent to TCR in the TCR fuse pool;
2. 33,333 USDC equivalent to ETH in the TCR fuse pool; and
3. 33,334 USDC equivalent to USDC in the TCR fuse pool.

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Variation and Termination

1. If successful, this proposal may be varied or terminated by future proposals.
2. If successful, the tokens that are sent by the Tracer DAO to the Rari fuse pool may be returned to the Tracer DAO via future proposal. If a smart contract hack/emergency or 'black swan' event occurs, veto power is given to the Mycelium team to effectively protect the Tracer DAO by removing the funds from the Rari Fuse Pool (#112) and returning them back to the DAO treasury via smart contract implementation.

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Conflicts of Interest

In the context of the Tracer project, conflicts of interest include:

1. Existing Service Providers who are Related Parties; and
2. Existing (vested and unvested) holdings of TCR tokens.

The following conflicts of interests are declared:

1. No conflicts of interest to declare.

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Interpretation

Unless otherwise defined in this offer, all terms beginning with a capital letter which are defined in the Participation Agreement have the same meaning unless the context otherwise requires.

If this offer is accepted as a Proposal under the Participation Agreement, others may more formally document aspects of the proposal.

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Copyright Waiver

Copyright and related rights to this Proposal are waived pursuant to CC0.