Summary

Discourse link: here

The primary use case for the TCR token is currently governance, where possible the aim should be to include as many TCR holders as possible. Currently Tracer DAO governance (executed through snapshot.org/#/tracer.eth) accepts votes from;

• TCR
• tTCR
• Unstaked TCR
• Arbitrum TCR

Balancer and other LP tokens are currently not included resulting in Arbitrum TCR holders deciding between participating in governance or using their TCR to earn. There is currently no way for an Arbitrum TCR holder to participate in governance and earn.

The high gas fees on Ethereum has resulted in many new or smaller crypto holders no longer being able to transact on Ethereum mainnet. Layer 2s such as Arbitrum are growing in applications, users and volume. More liquidity on AMMs such as Balancer will be needed to support this growth.

With Balancers 80%TCR - 20%WETH pool, LP providers are showing clear intent to hold TCR with a long term view. LP providers in the B-80TCR-20WETH incentives are aligned with all other TCR holders.

Bankless DAO has recently approved to extend their partnership with Balancer, RSA and David Hoffman are strategic advisors and TCR frequently appears on the Bankless podcast. Allowing TCR Arbitrum users to participate in providing liquidity while also voting in a DAO is a great way to demonstrate to new users the power and opportunity of DeFi. Further aligning TCR values with Bankless and the Bankless DAO.

As mentioned in Proposal #36, “In other DAO protocols, local governance token holders are incentivised to stake their tokens within the local protocol to receive rewards (%APR in governance token) purely for staking to vote. This function rewards governance token holders in return for little utility to the DAO (liquidity locked + paying for people to vote)". Providing as many people the opportunity to earn while holding TCR will reduce the community pressure to offer staking incentives for governance.

By allowing Balancer LP tokens to vote we are achieve

• Encouraging greater participation governance
• Allowing TCR holder to generate additional value
• Adding liquidity to L2
• Reducing the need for the DAO to offer staking

At the moment of writing there are 238 addresses holding 404,698 B-80TCR-20WETH tokens which equates to 323,758 TCR.

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Deliverables

If this proposal is successfully passed, the following deliverables will be provided:

1. B-80TCR-20WETH tokens (only the equivalent TCR amount will be acceptable to vote) will be able to be used to propose and vote on proposals in Tracer DAO’s governance process on Snapshot. This is in addition to the tokens previously voted on in Proposal #36.

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Variation and Termination

If successful, the DAO may terminate or vary the specifications of this proposal in accordance with:

1. future Proposals; and
2. the Deliverables specified above.

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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 interest are declared:

1. No conflicts of interest to declare.

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Interpretation

Unless expressly agreed otherwise in writing by an Authorised Representative of the DAO, all terms that are defined pursuant to the Participation Agreement will retain its meaning.

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

The following definitions shall apply in this Proposal:

Definitions

Commencement Date: the date this Proposal is passed on chain and is signed.

Tracer DAO: A decentralised autonomous organisation for Tracer, an open-sourced blockchain-based financial protocol.

TCR Token: A measure of voting power in the Tracer DAO that attaches to a specific Wallet Address, whereby the greater amount of TCR Tokens a person holds in that Wallet Address, the greater the person’s voting power.

Related party: Means, but is not limited to, the Service Provider’s parent company, subsidiary, affiliate, assignee, transferee or one of their representatives, principals, agents, directors, officers, employees, consultants, contractors, members, shareholders or guarantors.

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Copyright Waiver

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