The core team has prepared a plan to make Paladin a powerhouse from launch. Every aspect of this proposal is up for change, please voice your opinion, this is the most important proposal of the month.
Summary: Doing an LBP with unclaimed PAL from the airdrop and use this treasury as Protocol Owned Liquidity (POL) to drive utility on Warden and revenue for the DAO.
Warden has the potential to be an extremely powerful money lego in the Curve Wars but will need Liquidity Mining with a market pricing to compete with other yield optimizers on top of Curve (details here 3).
After the committee is elected (vote begins on Thursday 03/02) they will elect an Elder who will actively participate in the discussions and negotiations for the execution of the plan agreed in this PGP.
Instead of simply enabling transferability, we believe the DAO should do an LBP to mark the event.
Why not just make the token transferable ?
Over 815,000 PAL tokens planned for airdrop were sent back to the Paladin Treasury on 01/02/22. Because $PAL is currently non-transferable 25% of eligible accounts claimed, this is an extremely positive outcome as it has allowed the DAO to skim out a lot of mercenary capital. Unfortunately it also disrupted the emissions planned.
Paladin should seize the opportunity created by the available capital and the attention it is currently generating to absorb POL via an Liquidity Bootstrapping Pool (LBP).
Selling them will allow us to reward active contributors, let new power users join us, make the DAO benefit from a good price discovery mechanism and create the biggest protocol owned liquidity possible early on.
More than simply acquiring POL the core team believes this month can become a huge catalyst of success. By porting that liquidity to Curve v2 and enabling a gauge, the DAO can become the first large client of Warden and constantly farm at max boost.
- 815,000 PALs coming back from unclaimed airdrop + 185,000 from DAO treasury
This plan is supposed to enable long term revenue to the DAO as well as making us the first biggest customer of Warden (and the dapp that should be released when Curve votes on enabling our gauge). Adjustments to POL can be made via an Olympus Pro program later on.
Voting options: Yes / No / Abstain