https://etherscan.io/tx/0xde63111f7a9bb52ae823bdf75d81d259beca3c2ae7a5beb19ff45c565924fd4e
GM or GN.
It is again time for the community to exercise its governance function.
Having great, long lasting, legitimate projects launch on Xchange will be a critical step towards long term project success.
One mechanism we can imagine providing is a consumable NFT that will grant a one time discount or waiver of one or more parts of the borrowing fee (similar or perhaps better than the Borrowing Maxi NFT). These would be very limited and consumable so as to ensure that the medium/long term value of the existing Borrowing Maxi NFTs is not compromised. This is a one time promotional activity to help kickstart Xchange.
How would this work in the presence of full DAO control?
In order to support the above discount, there are three main activities:
- Writing a consumable NFT smart contract
- Updating or replacing the Lending Discount Authority smart contract (not yet deployed on mainnet) to apply discounts based on possession (and destruction) of the NFT
- deciding who should get these NFTs - which projects should we incentivize to launch on Xchange
What's critical is understanding which part of the above would ACTUALLY be enacted by X7 DAO governance.
The answer is that only (2) involves an ecosystem contract change. (1) is something that any smart contract developer could accomplish. (3) is a semi-trustful problem that we cannot likely solve on-chain. Let us re-pose this proposal AS IF we are just community members with a good idea.
We will implement two smart contracts.
- An NFT with a small max supply (20)
- A Lending Discount Authority change that supports discounts for possession and destruction (through an approval transaction workflow) of these NFTS
Additionally, we will create a Gnosis Safe (multisig wallet) that will receive the entire supply of these NFTs.
The community should organize a "Discount Selection Committee" that will be made up of a few devs, a few "DeFi native degens", etc. Their responsibility will be to determine who gets these onboarding incentives.
Once that committee has been chosen (through an off chain, deliberative process), they will be made signers on the multisig wallet and therefore will be able to transfer the discount NFTs to whomever they choose.
