Proposal #29: Tokemak Reactor Vote Round 2

Summary

The proposal aims to stake $TOKE from the Tracer DAO treasury into a Toke reactor for the following reasons:

  1. Stake TOKE to vote on other projects in the upcoming C.o.R.E.2. event; and
  2. Stake TOKE in order for the Tracer DAO to effectively optimise its treasury for greater capital efficiency by earning yield on the TOKE tokens that are staked in Tokemak.

Tracer’s experience with the first C.o.R.E. Rector event was a huge success and in turn developed strong relationships with the protocols that were in the spotlight. The C.o.R.E. event also effectively provided greater market exposure for Tracer DAO.

Additionally, it enabled the TCR token to have strong volumes of liquidity for users to seamlessly purchase TCR to become apart of the DAO and provide exit liquidity for liquidity miners currently using Tracer’s Perpetual Pools financial contract with lower slippage.

Rationale

Tracer has acquired Toke in its treasury and now has the ability to utilise this TOKE to build a partnerships through the next round of Tokemaks C.o.R.E.2 Reactor voting.

“TOKE staking voting will be 1:6, 1 TOKE = 6 votes (increase from the first C.o.R.E. for single asset staked TOKE)”

https://medium.com/tokemak/c-o-r-e-2-begins-tuesday-november-9th-f52ca43f0770

Because of the multiplier of stake voting, Tracer’s vote has the ability to increase the chances of the these protocol igniting a token reactor which will in turn build strong partnerships with the winning protocols and their community.


Consideration

To expand the Tracer ecosystem, Tracer DAO will stake TOKE in its treasury to:

  1. Vote for 3 of the 45 candidates in the running for the C.o.R.E.2. Token reactor.
  2. Receive staking rewards up to 57% APR. Tracer DAO has 27,406.56 TOKE in its treasury available for stake voting (equating to 164,439.36 votes).


Deliverables

An open Discourse poll will be open for members of the DAO to vote in the token of their choice for the 2nd C.o.R.E. event on Tokemak.

  1. The #1 voted candidate will receive 50% of the Tracers voting power;
  2. The #2 voted candidate will receive 30% of the Tracers voting power; and
  3. The #3 voted candidate will receive 20% of the Tracers voting power.

Once the poll has reached consensus, this proposal will be updated to include the top 3 tokens. The proposal may then be pushed to Snapshot to accept Tracer DAO staking TOKE in the Tokemak reactor to receive returns for staking and to vote on the tokens selected from the poll.

The results from the Discourse poll are as follows:

  1. TEMPLE (Temple DAO)
  2. SPELL (Abracadabra Money)
  3. MATIC (Polygon)

Variation and Termination

  1. If this proposal is successful, it can be varied or terminated by future Proposals.
  2. TOKE tokens staked in Tokemak may be returned to the DAO via future proposal. In a case of a smart contract hack/emergency ‘black swan’ event, veto power is given to the Mycelium team to effectively protect the DAO by returning TOKE tokens back to the DAO.

Conflicts of Interest

In the context of the Tracer project, conflicts of interest include:

  1. Existing Service Providers who are Related Parties; and
  2. Existing (vested and unvested) holdings of TCR tokens.

Conflicts of interest to declare:

  1. No conflicts of interest to declare.

Interpretation

Unless otherwise defined in this offer, all terms beginning with a capital letter which are defined in the Participation Agreement have the same meaning unless the context otherwise requires.

If this offer is accepted as a Proposal under the Participation Agreement, others may more formally document aspects of that Proposal.


Copyright Waiver

Copyright and related rights to this Proposal are waived pursuant to CC0.

5 Likes
Tokemak reactor vote (1/3)
  • 1INCH
  • BAL
  • CRV
  • ILV
  • MIST
  • RUNE
  • YFI
  • AAVE
  • BAND
  • COMP
  • INDEX
  • MKR
  • SNX
  • YGG
  • ALPHA
  • BANK
  • CREAM
  • LDO
  • NEAR
  • SPELL

0 voters

Tokemak reactor vote (2/3)
  • ZRX
  • API3
  • BIT
  • FOX
  • LINK
  • PERP
  • TEMPLE
  • APW
  • BNT
  • FTM
  • LQTY
  • RAI
  • TRIBE
  • AXS
  • BOND
  • GRO
  • LUNA
  • REN
  • UNI
  • BADGER

0 voters

Tokemak reactor vote (3/3)
  • CVX
  • ICE
  • MATIC
  • RGT
  • VISR

0 voters

1 Like

Small typo in the consideration section… missing a verb, presumably “stake”.

3 Likes

Voting for Gro! Love that they are an early protocol, with giga-team and giga-backers :slight_smile:

1 Like

!pray for TEMPLE brothers

3 Likes

Voting for Tribe. Let’s go.

If someone has invested in Frax Share, it would be beneficial for him to vote on TEMPLE.