Raising Liquidity with ApeBonds (Part 1/2) | 5% Marketing & Development Fee

Background

This proposal consists of two parts aimed at conducting a discounted token sale through bonds using ApeBonds' services:

Part 1 (this proposal) - Unlock DAO to approve a 5% front-end fee payment to ApeBond for their bonding services.

Part 2 (upcoming proposal) - Transfer of UP tokens at the value of $80,000 USD to conduct a bond sale with the objective of raising protocol-owned liquidity.

The approval of the service fee in this first proposal is a prerequisite for the second proposal, which will detail the specific terms of the bond sale.

The fee of 5% will be settled in Arbitrum tokens (ARB) or an equal amount in stable tokens sourced from Unlock DAO’s treasury at an equal value of $4,000 USD. Paying this fee in anything but UP tokens ensures effective treasury utilization while avoiding the need to potentially impact the price of our token.

Partner Information

ApeBond is a multi-chain bonding protocol committed to building a sustainable DeFi future for projects and communities. Our direct contact with ApeBond is Biz, aka Monkey Biz, who was introduced to us by ICHINik from ICHI Finance. He is an official business developer with the ApeBond team (https://docs.ape.bond/apebond/team). If you have any further questions, please tag Biz in our ongoing chat on Discord here: https://discord.com/channels/462280183425138719/1293630882619461713

ApeBond website: https://www.ape.bond/ ApeBond documentation: https://docs.ape.bond/apebond

Fee Calculation

The 5% front-end fee is calculated based on the $80,000 bonding transaction, amounting to $4,000. The fee will be settled through the DAOs treasury and an onchain proposal to the following wallet provided by ApeBond: 0x76E010758D2AE3B81973e2047cE70168CcaE2AbF

Benefits

If Unlock DAO accepts this proposal, we will move forward to the second part, which is executing the UP token ApeBond sale. For more details on that, please check a former proposal here: https://snapshot.box/#/s:unlock-dao.eth/proposal/0x88af568ac5dc2f58fbf8ad71217f7bd443e7702a41dbcaa85fb4107f12320e33 Be aware many details here have changed, such as the sum, but it provides a rough outline of how the DAO can potentially benefit from a collaboration with ApeBond.

Timeline and Implementation

The work on the second part of the proposal will be put into action once this proposal has been executed and the fee is processed (after voting on Tally/ onchain has been finalized).