Summary:
Seek Authority from the community to offer a one off reward of $ALD 2000000 for the successful launches of Concentrator and CLever
Background:
Aladdin DAO entered the Curve Wars with two new products: Concentrator and CLever.
Concentrator is an autocompounder running 2 strategies (with more coming): CRV autocompound (aCRV) and FXS autocompound (aFXS). To distribute Concentrator’s native token CTR we created an Initial Farm Offering, where users can give up their farmed aCRV in exchange for CTR. The IFO is due to finish on 31st of October. As Concentrator is built by Aladdin DAO, 30% of CTR total supply was allocated to the DAO, which have been ve locked for future revenue.
CLever is a protocol that allows you to deposit top quality tokens in high-yielding collateral strategies, then claim your future yields today. Your future yields can be farmed, re-deposited to create leverage, or used wherever you need them. CLever works with CVX now, with support for FRAX and CRV coming soon! Recently we conducted a Token Offering for CLever, which sold out in under 5 minutes! As CLever is built by Aladdin DAO, 30% of CLEV total supply was allocated to the DAO (linearly vested over 2 years), which will be ve locked for future revenue.
Motivation:
To keep everything fair for all participants, we have decided that there won’t be any team allocation for both CTR and CLEV. Now that both protocols have completely launched and are gaining market traction, we believe the DAO should offer compensation for the team and some external contributors.
Proposal:
We propose to use 2000000 ALD tokens from the treasury and distribute them as follows:
$ALD 800000 for Aladdin’s core contributors
$ALD 800000 for Aladdin’s devs + support team
$ALD 400000 for External Contributors
Polling Period
The polling process begins now and will end around 14:00 UTC on 22 of October 2022. If Quorum is reached, a Snapshot Vote will be put up shortly thereafter.
- Yes, I agree
- No, I don’t think that the team deserves to be compensated
0 voters