[VOTE] AGIP 19 & 20: GHST on SynFutures and Treasury Taask Force
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[VOTE] AGIP 19 & 20: GHST on SynFutures and Treasury Taask Force

Aavegotchi
Aavegotchi

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AavegotchiDAO starts swinging its weight around with AGIPs 19 & 20

It is no secret that Aavegotchi’s community is talented and ambitious. It shows this week with two more proposals escalated to CoreProps. As is the trend, both originate from community members unaffiliated with the core development team. Despite this, the ideas gained enough traction to surpass a SigProp’s quorum requirements and maintain majority support. Now the real fun begins with these CoreProps being open to vote for the next 7 days.

AGIP19 proposes steps toward a robust GHST Futures markets, while AGIP20’s passage would formalize a DAO Treasury Taask Force with an initial 50k GHST budget.

Read on to learn more about these two important votes and then join their respective discussion threads at dao.aavegotchi.com

The votes are open for the following seven days. Plenty of time to consider, discuss and VOTE at the AavegotchiDAO Snapshot.

AGIP19 VOTE LINK
AGIP20 VOTE LINK

Now, let’s have a look at these Core Proposals shall we?

[AGIP19] Providing GHST Liquidity on SynFutures

Author: SynFutures Team & Moon
GotchiID: 3541
Quorum requirement: 20% (9M)
Vote duration: 7 days
XP Reward: 20 XP for each Aavegotchi in the voter’s wallet
Discourse Thread: https://dao.aavegotchi.com/t/provide-ghst-as-liquidity-on-the-derivatives-dex-synfutures/2664

Since Aavegotchi has gathered a lot of liquidity on Spot DEXes, it is high time for Aavegotchi to create and boost its Futures market. Derivatives markets make up the majority of global trading activity and allow users to leverage their investments. Adding GHST liquidity on SynFutures would allow people to take on leverage longs (or shorts) on the future of Aavegotchi. But why SynFutures?

Great investors and team background
SynFutures is backed by Polychain, Pantera, Dragonfly, Framework, Standard Crypto, Woo, and more. The team’s background is a great combination of traditional finance and DeFi. SynFutures is the only project of its kind which can support the listing of any assets by anyone in a permissionless manner (in less than 30s).

Security
Backed by solid experience from the TradFi financial engineering and DeFi protocol safety, SynFutures has many risk management features (e.g. anti-flashloan attack, EMA smoothing method, etc.) and has gone through external code audits.

Easy to manage and start
SynFutures supports a single token model to add liquidity which means the Aavegotchi Treasury would only have to deposit GHST instead of offering two tokens with the risk of impermanent loss. We are asking for 200k worth of GHST tokens to kickstart the pool. The liquidity could be withdrawn anytime.

Growth Potential
Trading volume and users are growing fast on SynFutures. For the past 3 months since the SynFutures Alpha launched, we reached 47k users of and $1bn+ in trading volume. All this happened without a native SynFutures token, which could attract even more users.

Volume analysis
Quickswap vs. SynFutures:
Total LPs: 150k / 40K
Total traders: 100k / 20k
Daily trading volume: $100M / $29M

SynFutures trading volume makes up ~1/3rd of QuickSwap, and the amount of traders is 1/5th as big as on QuickSwap, however, the trading volume for different pairs is more concentrated. SynFutures has 108 trading pairs while QuickSwap has more than 22k pairs. For example, the daily trading volume of MATIC-USDC on SynFutures closes in on around $9M, while Quickswap reaches $14M.

Option 1: Yes, add $200k in GHST
Option 2: No, do not add $200k in GHST

[AGIP20] Creating the DAO Treasury Taask Force

Author: Dr Wagmi#6629
GotchiID: 16635
Quorum requirement: 20% (9M)
Vote duration: 7 days
XP Reward: 20 XP for each Aavegotchi in the voter’s walletDiscourse Thread: https://dao.aavegotchi.com/t/establish-the-dao-treasury-taask-force/2460

We propose the creation of the DAO Treasury Taask Force (DTF). This committee will initially be composed of 8 members with reassessment of membership by the DAO within 6 months.

As of 12/07/2021, the DAO Treasury (https://aavegotchi.com/treasury) boasts nearly ~$11,408,400 worth of DAI and GHST. In its initial form, the committee will form proposals for consideration by the DAO which will subsequently be voted on and, if passed, enacted.

Proposed Mission Statement
The Aavegotchi DAO Treasury Taask Force is a dynamic committee assigned with making DAO treasury management proposals to the community and DAO for consideration. The initial mission and goals of the committee will be: 1) Grow and optimize the DAO treasury with an emphasis on safety, security and transparency; 2) Partner with Pixelcraft to assist in developing and identifying tools and infrastructure for ongoing DAO Treasury management; and 3) foster and encourage growth of the overall Aavegotchi community by increasing awareness, actively promoting adoption, and maintaining current user engagement.

Initial Funding
After lengthy discussions with the task force, the community, and with coderdan, the DTF would like to request an initial 50,000 GHST budget. The 50,000 GHST budget would be transferred from the DAO Treasury to the 8 multi-signature Gnosis Safe. This budget will greatly expand the flexibility of the DAO in incentivizing and rewarding engaged community members, developers, creatives, and overall contributors. This budget will never be used to reward members of the DTF. The DTF’s core main initiative will be to form a proposal for overall use of the DAO Treasury by investing some of the $10 million DAI/GHST in yield bearing opportunities. With effective deployment of the DAO Treasury, even modest returns would more than pay for the DTF budget request. The DTF will ensure comprehensive accounting and provide community facing documentation to ensure transparency. Some potential uses for the budget include the following:

  • Reward community engagement and aarcade play
  • Reward game developers and designers
  • Reward community application developers
  • Reward and acknowledge community art contributions
  • Reward, acknowledge and grow content creators and general marketing efforts
  • Expand Aavegotchi and GHST’s opportunities for decentralized financial applications

The DTF is developing a structured plan and multiple potential pilot projects to best utilize these funds. We will work to develop tools to allow maximum transparency into the budget use. Expenses within this 50,000 GHST budget would not require a DAO approval in order to maximize nimble use of the funds. Any further budget requests beyond the initial 50,000 GHST would require a DAO vote.

The initial 8 members of the DTF

  • BowtiedNerd
  • Mori
  • letsgobankless
  • Addison
  • Deucehearts
  • BackfireCapital
  • Swappi
  • Dr Wagmi

We appreciate the Aavegotchi community’s support and look forward to our first proposal.

Option 1: Yes, with 50k GHST budget
Option 2: Yes, without 50k GHST budget
Option 3: No, do not create the DTF

XP Reminder

Your participation in Aavegotchi governance is valuable to the project and to your own Aavegotchis! Each Aavegotchi you own will earn 20 XP for your voting in each individual CoreProp. That’s 40 XP total! The XP is airdropped directly to your Aavegotchis in the week or so following the conclusion of the vote.

Your Aavegotchis earn XP irregardless of whether you vote for or against any particular proposal.

Conclusion

Make sure you join the discussion threads before voting, as it is very important to hear any concerns that are not addressed in the original verbatim proposals. Once you’ve heard from both the bulls and bears it’s time to put your voting power to use!

AGIP19 VOTE LINK
AGIP20 VOTE LINK

Stay spooky frens,
Aavegotchi Team


About Aavegotchi

Aavegotchis are on-chain collectible ghosts staked with Aave’s interest-generating aTokens.‌
‌‌
‌Compete for player rewards by earning XP, leveling up, and increasing the rarity of your Aavegotchi fren. Owned by the community, Aavegotchi is governed by the AavegotchiDAO and the native eco-governance token GHST. Visit Aavegotchi.com today and join the future of DeFi-staked NFT avatars!

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