Boule: Listing Lido & MIM

Liquidity Curation through Big Brains
As a group of world class experts in DeFi, the AladdinDAO Boule are responsible for identifying and voting the most promising DeFi projects and enabling AladdinDAO community members to enjoy the returns of their liquidity mining programs.

Voting Mechanism
Any project can apply to be listed on AladdinDAO. However the project needs to be nominated by at least one boule member to initiate voting process.

Boule members vote through ALDVOTE. They can either upvote, downvote or be neutral to a project.

For any project to be listed on Aladdin for liquidity mining, they must fulfill at least one of the following criteria:

Over 50% of boule members vote and a majority of the votes are “Yes”.
The percentage of “Yes” votes is 20% more than the percentage of “No” votes.
These criteria ensure that sufficient consensus can be achieved, given the high costs associated with listing new projects. They also prevent potential attacks and collusions during the voting process.

Since 31 OCT 2021, if boule think they don’t have enough information about the project or if they are neutral to the project, a neutral vote is added to the yes or no vote. Neutral votes will not be used to calculate boule member performance.

Here is the details about the new change:

Decision overturn: If any boule member strongly disagrees with the Boule’s decision, they can call for a vote by all ALD token holders. A decision can be overturned if the below conditions are met:

A quorum of over 20% circulating token holders participating
Over 51% agreement

Project 1: Lido
Lido is a liquid staking solution for Ethereum. Lido lets users stake their ETH - with no minimum deposits or maintaining of infrastructure - whilst participating in on-chain activities, e.g. lending, to compound returns.

LDO is the native utility token that is used for:
 1. Granting governance rights in the Lido DAO.
 2. Managing fee parameters and distribution.
 3. Governing the addition and removal of Lido node operators.

Discord: Lido
Telegram: Telegram: Contact @lidofinance

Project 2: MIM is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money - MIM), that can be used as any other traditional stablecoin.
Currently, a lot of assets, such as yVaults have locked in capital that can’t be put to further use. Abracadabra offers an opportunity to use it.

Official Website:
Discord: Abracadabra money

Here is some introduction about projects above in AladdinDAO’s Boule Research Meeting. Boule Research Meeting 6 11 Nov 2021 Lido & Magic Internet Money - YouTube

You may only cast one vote (either Yes/No/Neutral) for each project, otherwise it will be considered invalid. Only Yes and No votes will be counted as part of performance/rewards calculations.

Cast your vote

  1. Lido Yes
  2. Lido No
  3. Lido Neutral
  4. MIM Yes
  5. MIM No
  6. MIM Neutral

Here is Boule Plus voting result on 15Nov for the projects above:

Lido: 113 Yes 2 Neutral 5 No
MIM: 111 Yes 2 Neutral 4 No

While the Boule Voting Result was:

Lido:9 Yes 1 Neutral 2 No
MIM:9 Yes 3 Neutral 0 No

Ps: Neutral vote will not be counted in neither Boule Rewards Calculation nor as an valid vote in voting criteria counting.