Snowbank DAO
Search…
Governance
gSB holders will be able to generate deep and sustainable liquidity on demand, for pairs they want, by controlling and directing Turbines incentives.

Voting

During the last 2 days of every period (a period lasts 42 epochs - 14 days), gSB holders are able to vote on a new pair to be deployed through a new Turbine, and vote how liquidity incentives get directed for the next period.
Only gSB holders that are staked before the beginning of the current period can vote during the session.

Turbine Deployment

Prior to the session, liquidity pairs submissions are pre-voted, 5 of them are selected by votes to be submitted during the session.
During the session, gSB holders get to vote on the new pair that will be added through a new Turbine deployment. Votes received during the session by pairs that didn’t win are saved for the next session.
At the beginning, new liquidity pairs submissions will be managed by the DAO, before becoming totally permissionless and managed on-chain.

Liquidity & Turbines Incentives

gSB holders are able to generate liquidity on demand for whatever available pair they want, by controlling and directing Turbine incentives. The protocol has a global debt capacity (in % of the market capitalization - set at 5% by default), which is distributed between all Turbines by votes during each session. Higher capacity means a lower BCV which means higher discount opportunities, while smaller capacity means lower discount opportunities.

Liquidity Deployment

In order to optimize treasury revenue from protocol-controlled assets, liquidity pairs will be deployed on AMMs that are able to generate the highest revenue from liquidity ownership.
As mentioned earlier, this will be managed by the DAO at the start, before becoming permissionless and being managed on-chain and included in sessions.