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IIP-11

Council Vote for 4th Flash Pool

  • Date PublishedSep 19, 2021
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IMPLEMENTED

Author

Kieran Warwick

Simple Summary

The Illuvinati Council is being presented with five tokens to vote upon for the 4th flash pool.

Additionally, if a pool is approved the duration will be extended by two weeks to last a total of 4 weeks.

Abstract

Create a new ILV staking flash pool for the token voted in by the Council

Overview

The result of the previous attempt to select a 4th Flash Pool in the vote for IIP-008 was a pause in Flash Pools until the V2 contract could be implemented.

As the new contracts will take time to be written and audited the community has discussed extending the duration of each pool from 2 weeks to 4 weeks and commencing them again.

The tokens being presented for Council vote were suggested by the community, Core Contributors, and Council Members. Therefore, they represent tokens that the DAO feels would make beneficial staking pools in the best interests of the DAO.

Rationale

Flash pools have the ability to generate a number of new token holders from strong communities. While we work towards open beta it is critical that the DAO continues to gain exposure, and offering yield to solid projects assists with that.

The five tokens currently nominated are:

  • SUPER (Superfarm) - DeFi NFT protocol (We are presently working with Superfarm to provide an opportunity for ILV token holders to be able to stake on the Superfarm platform to farm NFTs)
  • SUSHI (Sushi) - Swap, earn, stack yields, lend, borrow, leverage all on one decentralized, community-driven platform (Longterm partners of Illuvium, currently our largest trading exchange)
  • ENJ (Enjin) - Products that make it easy for individuals, businesses, and brands to use non-fungible tokens of the future. (Huge gaming ecosystem with over 100,000 token holders)
  • MVI (Metaverse Index) - Metaverse token (Large investors in Illuvium, recently listed our token as the second-largest holding within their gaming index)
  • LINK (Chainlink) - Oracle solution (Active community that strongly endorses partner initiatives)
  • Continue the Flash Pool pause.

Test Cases

IIP-8