RIP-000-011: Fast-Lane free minting to FTM to get Solidly's NFT (Andre's project)

Ren Improvement Proposals | RIP
1

Name: Refund all mints on FTM until Solidly’s (Andre’s DeFi project) snapshot on January 23rd
Category: CEF
Status: Proposed
Scope: Refund all mints on FTM until Solidly’s (Andre’s DeFi project) snapshot on January 23rd

Overview

The aim of this RIP is to incentivize mints on Fantom blockchain to get Ren Protocol into top20 TVL on DeFiLama, so that we’re eligible for Andre Cronje’s NFT drop by his new project Solidly (link to github). This RIP aims to achieve this by refunding all mints from the time of this thread being published until the time of Solidly’s Snapshot. Funds will be taken from the Community Ecosystem Fund.

Details

Just recently we had a $53 million mint which puts on 23st place at the time of writing with a total TVL of $78 million. Now it’s up to us as a community to do all we can to incentivize further mints to ensure we’re in the top20 TVL on Fantom at the time of Snapshot. And the way we’re going to do this is by refunding all mints from the time of this thread being published until the time of Solidly’s Snapshot, which will happen sometime on January 23rd (unless postponed by Solidly’s team). Funds will be taken from the Community Ecosystem Fund.

The exact value of this NFT is unknown, but I’m sure we all know who Andre Cronje is and understand how important it might be to have influence on Solidly and projects that are already being built on top of it.

Implementation

  1. Vote on this RIP - Snapshot
  2. Collect all FTM minter addresses from the time this thread is published until the time Solidly’s snapshot is taken
  3. Refund all minting addresses the amount they’ve payed to RenVM (Minted amount * 0.36%) using CEF
2 Likes
2

Snapshot vote is up:

https://snapshot.org/#/ren-project.eth/proposal/0x607915788b8991854e2f49a77172e39f9364c0dbd04f14471da3d8c085bc15ff

To all minters who’ll come in here to check, this RIP went through in-depth pre-posting discussion and was supported with unanimous support:

939×108 10.7 KB

3

I think we should explicitly cap this at the current CEF worth

2 Likes
4

yes, more big mints could show up and have nothing to repay

5

Just to check - by “refund all mints”, we mean “refund all minting fees”?

Sorry - I haven’t been able to do my reading on what’s been going on. Trying to catch up!

6

I’ve just read to the botto of Arviee’s post and seen Implementation Item (3). All fine!

1 Like
8

how far back would you want to refund?

Let’s say “from today… till” to keep momentum, but don’t
just throw away already collected fees.

Edit: Just seen “from time this thread is published”

9

I am for this proposal. Getting the opportunity to be involved in governance votes on a new protocol that could be core to the Fantom ecosystem will be a big win for Ren so anything that will help in securing our place I am for.

10

Tnx RV for this proposal. I am for it. I see this as an investment.

11

If anyone can come up with an effective way to scrape all minter addresses from time A to time B and include their addresses and fee paid, please come forward :slight_smile:

12

Posted the mints on Discord: Discord

1 Like
13

Cuting off the mints that were done after the snapshot time this is what we have:

784×317 10.4 KB

I guess now we wait until we can send out the refunds :slight_smile:

4 Likes
14

Nicely done :ok_hand:

As soon as the CEF whitelisting feature is live, which is not far off, we can get this done through the upcoming Yield Ops Multisig!