Float Protocol
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Float Protocol

Float Protocol: BANK distribution- whitelist expansion

Based on feedback we have gathered (particularly via telegram and twitter), we are considering expanding the whitelist as part of Phase 1 of the BANK token distribution.

Background information

As a reminder, we implemented a whitelist as part of our Democratic Launch. We want the Float Protocol to be run by active, engaged participants. This whitelist lasts for 6 weeks (as of Sunday 14th Feb, 1 week of the Phase 1 distribution has passed), after which all restrictions are lifted to allow BANK price discovery.

For more details about the full distribution, read the launch post here.

The current whitelist (see here) is composed of addresses that participated in the offchain governance of any protocol on Snapshot.page and/or onchain governance on Compound, MakerDao or MolochDao.

Proposed expansion of the whitelist

The feedback we received was that governance participants in some major protocols were missed out as part of the initial whitelist.

As such, we proposal to do the following:

  • To run a vote on Snapshot on whether to expand the whitelist.
  • If passed, the whitelist will be expanded to include delegators on Compound, voters on Yearn, voters on UMA, delegators on YAM, voters and escrowers on Curve and delegators and voters on Uniswap. You must have interacted with one of these protocols before 5th February.
  • For every BANK token you own (either in your wallet, earned from the staking contract or staked in the uniswap pool), you will receive 1 vote.
  • The vote will start 10pm UTC on Monday 15th February and end at 10pm UTC Wednesday 17th February,
  • If the vote passes, we will execute a transaction (from the timelock contract) to update the whitelist. This will apply from Sunday 21st February at 10pm UTC.

Vote Results

The vote has passed with a ‘Yes’ to expanding the whitelist. As of Sunday 21st February 10pm UTC, all of the following addresses can participate — https://ipfs.fleek.co/ipfs/bafybeigsifk7bqfghdzrs4nibgg2k2df3yu3jhxewer4a5dznza2gupmti

Read more here: https://snapshot.page/#/snapshot.floatprotocol.eth/proposal/QmR8iPguiXFD3XVpK4ioULknvUc3NwLLGnFQJTZ22RdE3V

More information of Float Protocol

Website https://www.floatprotocol.com/ (also available via: https://ipfs.io/ipns/floatprotocol.eth/#/pools)

Twitter — https://twitter.com/FloatProtocol

Telegram — https://t.me/officialfloatprotocol

Medium — https://medium.com/@floatprotocol

Github — https://github.com/FloatProtocol/

Discord — https://discord.gg/nVCZacJJqM

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Float Protocol is building the decentralised monetary system of the future. At the heart of the protocol is the FLOAT token. It is designed to be the first truly native internet currency, one whose value changes over time as demand for it, and crypto, changes.

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