AIP #25: Voting on Camelot Proposal with treasury ARB
Introduction
The following AIP is to determine the DAO’s opinion on voting in favour, or against, the proposal posted by the Camelot DEX team on the Arbitrum governance forum. The treasury currently owns 901,392 ARB as well as additional ARB delegated to it.
Proposal Summary
This post proposes granting 1.5M ARB per month to Camelot DAO for the next 6 months to fund liquidity incentives for Arbitrum-focused projects on Camelot, including the onboarding of new and multi-chain protocols entering the ecosystem. Camelot strives to support the native ecosystem through collaborative relationships and has a proven track record of allocating incentives to enable sustainable growth and long-term liquidity for ecosystem protocols. This proposal will therefore support deeper spot liquidity for Arbitrum native builders, as well as supporting integration partners and the launch of new protocols, thereby enabling significant growth through an approach that prioritises Arbitrum’s core values. Most importantly, this will further the adoption of ARB as a base asset within liquidity pools and partner integrations.
Make sure to read the entirety of the proposal before voting, to educate properly on what it is proposed here.
Abracadabra’s Role and Voting
As members of the Arbitrum ecosystem, and an important player in governance, it is pivotal that Abracadabra makes SPELL holders voice heard. The Camelot proposal is currently on snapshot, and will then be moved to a Tally vote. The outcome of this AIP will decide what the DAO will vote on both occasions.
Voting
In order to make sure that the voting happens within the Arbitrum governance timelines, we propose the following AIP to remain on the forum for 24 hours, and then be moved to snapshot voting, for 48 hours.
The voting options are:
For
Against
Abstain
The snapshot vote has already been created and can be found here.
I support the underlying proposal and think Abracadabra should use its treasury ARB to support its partners in the ecosystem, of which Camelot is an important one.
If the vote passes, Camelot will be using the obtained ARB grant to further incentivise the abracadabra ecosystem through emissions to it’s pools, so it’s a clear win-win for both projects in this case.
I’m supportive of this proposal for multiple reasons, but mainly arbitrum has given abracadabra DAO tokens wishing that SPELL holders would participate in the evolutions of the arbitrum protocol.
Camelot’s proposal is sensible and good for the arbitrum ecosystem, deepening the liquidity and therefore helping all arbitrum projects reach higher potential, including abracadabra.
It’s a clear win win situation, we were entrusted with governance rights over Arbitrum, we should make our voice heard
I give my support for this. Stablecoin liquidity on curve has not been increasing . It is important for us to diversify resources and attention to other clearly emerging federations. Being that we have supported the Camelot community from launch, it seems fit that our arbitrum vote will support liquidity.
Adding some more context here following some valuable community feedbacks on Discord.
Abracadabra is one of the founding members of Camelot Roundtable, showing support to its ecosystem from day one by LPing directly MIM on Camelot during their nitro pool launch.
Thanks to this, the treasury has received 300 xGRAIL allocation that is currently vesting. 77 of those 300 xGRAIL are already claimed and allocated towards dividends payout on Camelot DEX.
Since inception, Abracadabra and Camelot have been working together on growing the Arbitrum ecosystem, and voting in favour of their current proposal would help them become the go to native DEX on Arbitrum. If this was to happen, Abracadabra would benefit form it both because of the xGRAIL allocation, as well as the strategic advantages that this strengthen partnership between our protocols will produce.
Another important step to consider is the direct and always active line of communication that has happened between Abracadabra Core contributors and Camelot team.
Camelot has also published a more in depth tweet describing what the plan is with the ARB allocation if the grant was to pass here.
