The Tokemak Core 3 Event is starting on May the 2nd and we have devised a plan to maximize our chances of winning while limiting sunk costs
- Win a Tokemak Reactor to raise liquidity opportunities;
- Diversify treasury with a TOKE swap;
- Use the event as a large awareness campaign;
- Avoid overspending and create a sunk cost situation.
Paladin has been working on deepening its liquidity and closing partnerships to deepen its synergies with major protocols who are successfully creating governance wars.
- Our smart contracts are now one of the biggest Aave holders
- Warden is managing 5M veCRV and we’re in the process of requesting a gauge.
Tokemak can only be our next destination. Core 3 is an opportunity to attract the attention of the tokemechs, win an OTC swap with their DAO and kickstart the building of an influence market for them.
Our current main worry is overspending during the campaign and end up with large DAO sunk costs (ie: no reactor and major spendings). For this reason we simply cannot publicly bribe users to vote for us.
It is however important to see the impact of bribing on the event’s outcome. In round 2, three out of the five winners won by bribing. They spent over 500,000$ each to win a reactor. These amounts are simply too high for the current budget of our DAO. And public bribing has led to significant dumps later on, which would be net bad for us.
During the past round, the bribing average on Votemak was 0.12$ / vote. So we’ve been contacting a few DAOs to arrange OTC deals with actors who would be incentivized to not dump the PALs distributed.
The biggest part of our campaign strategy is going to be on the marketing front. We’re the project that is offering the most to Tokemak and we just have to make it obvious enough to get the community vote.
Also, there’s a surprise for those who vote for us, but me no leak.
- We will hold a PGP to confirm the spending of the PALs for the OTC deals;
- No additional PALs will be allocated to avoid a sunk cost situation;
- Dev time for the technological solution that will be introduced;
Next Steps :
- An article summarizing potential synergies;
- Tokemak’s Spotlight (AMA) on 04/05/22;
- Answer on the 9th of May