FIP-XX Seeding FEI into Rari Fuse Pool 90 (Float Protocol)

Proposals
1

FIP-XX
Status: Draft
Author: @arcology

Summary

This proposal requests OA to provide 1M of FEI liquidity in Rari Fuse Pool 90.

Motivation

Float Protocol is a project with an innovative approach to an asset-backed currency. They utilize a similar PCV mechanism (known as the Basket), but is not pegged to any fiat currency, and use a rebalancing apparatus with Dutch Auctions. This allows their tokens to be inflation-proof and in essence a dampened tracking of ETH.

They have just created a Rari Fuse pool and their governance passed whitelisting the addition of FEI as a pool asset. As a supporter in both communities this proposal requests seeding 1M of FEI liquidity as per the guidelines specified in FIP-13.

Specification

1M FEI will be transferred to the Rari Fuse Pool 90 as an Optimistic Approval operation pending Temperature check on this Discourse and subsequent Snapshot vote.

Would you support providing 1M FEI liquidity to the Float Protocol pool?
  • Yes
  • No

0 voters

2

Currently 1M seems to be too large of an amount, where we could be using that FEI elsewhere. I’d support 250k. Overall it seems as if we’re being too aggressive with some of the Fuse pools.

1 Like
3

250k seems fine, FIP-39 authorized up to 1m for verified pools, so as soon as it gets added OA can execute without the need for a distinct snapshot vote

4

The action is pending and should be executed soon. It has also been added to the tracker:
https://www.notion.so/Optimistic-Approval-Tracker-e305c8e126b5432f9846585db3378bb0

3 Likes