Bootstrap is meant to kickstart a liquidity landscape that grows SPOT and makes it more valuable for users and ecosystem projects like Asymmetry Finance and others. Bootstrap is separate from the geyser program and is intended to create a burst of energy that can quickly grow the project to the next level of sustainable use cases.
I propose to authorize the use of 4.167M AMPL to help fund project bootstrap.
Execution
If this proposal passes, it would set an allowance for the Kennel Club multisig to deploy assets from the DAO Treasury.
Assets would be deployed within a timeframe of 6 months from proposal execution.
At the end of 6 months the Forth DAO has the option of ending the token approvals, letting it stand, or increasing the approvals once more.
Summary
Bootstrap is being kickstarted by the Ampleforth Foundation, and this AMPL allocation would help supplement the program. 4.167M AMPL accounts for roughly half of $10M of planned incentives.
@evankuo Thank you for putting forward this proposal, I think it’s great to see actionable steps being taken to support Bootstrap and grow the ecosystem via DAO’s funds. DAO and the community, we have a great opportunity to play a much bigger part of the success of the whole protocol.
However, I have a few points and clarifications I’d like to address before:
Clarification on Funding Allocation:
Could you confirm whether this 4.167M AMPL allocation would add to the existing $10M Bootstrap incentives, bringing the total to $15M? Or are these funds part of the original $10M allocation? There was some confusion in Discord about this point, and I think it’s crucial to clarify.
Details on Execution and Purpose:
It would also be helpful to outline how these funds will be deployed:
Will this allocation create a “mega burst” distributed directly to users?
Or will it be used to mint SPOT and deepen liquidity in preparation for the USDaf launch?
Alternatively, will the funds focus on expanding liquidity on other platforms to enhance long-term adoption?Understanding the intended mechanics of this allocation would provide more confidence in how it aligns with the broader goals of Operation Bootstrap.
Roadmap Transparency:
Voting on this proposal without a clear roadmap for the entirety of Operation Bootstrap is challenging. While I support the proposal, knowing how these funds enhance the original OB, and what outcomes we’re aiming for, would enable a more informed decision.
Ensuring Sustainability:
I’m very supportive of using funds to mint SPOT and kickstart liquidity for USDaf or expand integration with platforms like Curve. However, I think it’s important to ensure these funds stay within the ecosystem for a longer timeframe rather than being used solely as short-term public incentives. Are there mechanisms in place to ensure sustainability and minimize outflows?
In summary, I think this proposal has significant potential, but additional details on how the funds will be deployed and how they align with the long-term vision of Bootstrap would greatly enhance transparency and trust.
This is not additive, it contributes to the existing $10M amount.
Funds be will be spread across ~5-phases to achieve the goal of creating $50M in SPOT/USDC liquidity
Increased liquidity unlocks pretty much all future integrations for us here. The project has several things it can grow into at higher liquidity levels, in addition to the publicly announced partnership with aymmetry.finance.
The goal with this program is to get people into the system (“they come for the sizzle”) and, through participation, learn that even without incentives the terminal APY’s are potentially very high and long lasting (“they stay for the steak”). Here is a snapshot of the charm vault’s native yield without incentives:
