Update Jan. 11, 2022. Vote closed.
Tokens will be allocated to the development fund.
Tokens transferred to dev fun multisig wallet
Related Discussions: Allocation of Excess Tokens
Submission Date: January 5, 2022
- Vote is now live on Snapshot
- Tokens can go to one of 4 streams: Treasury, development fund, community, or burn.
- Snapshot vote will determine where tokens will be allocated.
- If quorum is not reached, tokens will be sent to the treasury.
We have received great ideas from the community. Given the small amount of the excess tokens, it makes sense we allocate them to one of four possible streams:
Treasury: Send the tokens to Silo DAO. Token holders can vote to put the treasury’s holdings of $SILO and ETH to use at any time.
Development Fund: Allocate tokens to the development fund to fund activities that grow the protocol, including but not limited to:
- Grants program: Pay for measurable contributions that aim to grow the protocol’s users and liquidity - creating content, building tools, etc.
- Insurance: Buy cover for specific markets (Silos) in the early days of the launch.
- Bounty program: Launch a bounty program to strengthen the security of the protocol.
- Other activities that can be suggested by community members at any time.
- Community: Possible streams include:
- Early users of the protocol such as ETH liquidity providers, borrowers etc.
- Auction participants
If voted, the community can discuss further how to allocate the tokens to community members.
- Burn the tokens.