Posting the proposal here to help the organize discussion that’s going on in discord.
Link to the snapshot proposal: https://snapshot.org/#/floordao.eth/proposal/0x303757a4fdf43c97107d950b6e69e13a2106346e091d346b6959594eea99ee0d
Hey FloorDAO community!
After discussing with the team and the community, we’re officially submitting our partnership proposal!
For those of you who are unfamiliar with bunker.finance, we are an NFT-backed lending protocol. You can read more about us here: Introducing bunker.finance: The easiest way to borrow against your NFTs! | by bunker.finance | Mar, 2022 | Medium
As a NFT-backed lending protocol, NFTX liquidity is super important to us as it serves as the main venue for on-chain liquidations of collateral. The greater the NFTX liquidity (eg. Sushiswap pool liquidity for the respective vault token) for a collection, the greater outstanding loan volume we can support.
Right now, there are lots of popular NFT collections that we’d love to support as collateral on Bunker, but can’t due to poor liquidity in the NFTX pools. We hope that by working together with FloorDAO, we can overcome these limitations and give a larger group of NFT holders instant access to loans.
- Bunker will request FloorDAO to incentivize collections in exchange for a share of the interest revenue for the corresponding lending pool on a case-by-case basis via governance proposals.
- Bunker will define a liquidity threshold for all collections incentivized by FloorDAO, and whenever a collection reaches this minimum threshold, Bunker will create a lending pool for it.
- Bunker and FloorDAO will engage in co-marketing efforts including, but not limited to: mutual front-end integrations (Bunker provides easy interface for bunker users to purchase FloorDAO bonds, FloorDAO links to Bunker pools for collections they incentivize), Medium articles announcing new collections being added to FloorDAO/Bunker.
If you have any questions, you can message me on Discord (MartinG | bunker.finance#1699) or ask them in our discord: (link in snapshot proposal due to restrictions on the amount of links in this post)
Looking forward to a fruitful partnership