Summary : Elect a dedicated committee, prepare liquidity options, decide on budget and enable PAL Transferability
Paladin Lending has been live for four months and Warden for a week. Combined, the dApps are now managing 15M$ + of governance token. While the offer side of our marketplace has been a relative success, the DAO is yet to create stable and large volume demand for its loans and boosts.
Enabling the PAL two months ago and creating a liquidity mining campaign were supposed to contribute to this, but non-transferability has proven to be a thorn against widespread adoption. Without a market price, we cannot display APY when distributing PAL tokens, this prevents us from attracting mercenary capital.
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.
By opening the debate on PAL token transferability we hope to make it extremely clear that Warden is the best source of optimization on the market.
This event has to be owned by the DAO and become the genesis point of its contributor groups. As such, we’d like to open an election for a 5-person committee (number can be changed if deemed unfit) with one member of the core team that will take the operational lead for this event. All strategic decisions (bootstrapping option, budget, timeline) will be made by the DAO.
PAL is 3 months old and thanks to its non-transferability has filtered a lot of mercenary holders. Case in point, the DAO treasury will get back almost 850,000 PALs from the airdrop, which we’d like to allocate to bootstrap liquidity. Several options are being studied and the community will decide which one the elected committee should put in place.
Please do take into account that selling tokens on the market should not be understood as a fundraising mechanism but rather as a strategy to acquire Protocol Owned Liquidity, benefit from extra-revenue and make the DAO the first power-user of its own present & future products.
We believe the community should choose its committee via cumulative voting in a PGP that will swiftly be posted after community approval.
The treasury should allocate all non-distributed PALs to the bootstrapping effort, with an eventual top off to reach 1,000,000 PALs. Half would be used for distribution, half to pair with assets obtained and paired as an LP.
The PGP will have to include a budget to compensate the committee for ~1 month of part time work.
The elected committee will manage the allocated budget in the name of the DAO to obtain assets to create the bootstrapped liquidity and will lead discussions with potential partners for this event.
In case of malicious behaviour detected, the DAO can remove a committee member at any time via a governance proposal.
- Community debate on the validity of this roadmap
- Creation of a PGP to elect committee members
- Elections on Snapshot
- Creation of a PGP to decide on budget and bootstrapping strategy
- Bootstrapping event
- Enabling transferability
The goal is to have POL and competitive APY live by end of February
Voting Options : Yes / No ;
Please not that employees of Mithras Labs (company building dApps for Paladin DAO) will not vote on proposals concerning token transferability)
- Yes, proceed to the election of a committee to manage the Transferability event
- No, I believe PAL is better as non-transferable for now