Treasury Proposal - Building the MetaGame Circular Economy

There’s been talks to continue building out the MG circular economy & thinking about the potential low hanging fruit we can implement with moderate ease.Financialising MetaGame is purely to cater to the sustainability of our Tokenomic ecosystem to provide more access to opportunity & allow us to build more for Public Goods & The Commons.

Public Goods

In economics, a public good refers to a commodity or service that is made available to all members of a society.

The Commons

The commons is the cultural and natural resources accessible to all members of a society, including natural materials such as air, water, and a habitable earth.

With that being said I have a simple idea.

I’ve been fortunate enough to get early access to Babylon Finance’s gardens as a Settler

See Here: https://www.babylon.finance/settlers

You may be asking WTF is Babylon Finance?

Well… they are a protocol specialising in community led asset management. Which seems a perfect fit for both our current treasury & the partnership with RAI if passed.

So whats the opportunity?

Gardens - Investment communities in Babylon. Garden members can deposit capital, suggest Strategies, vote on Strategies, and earn rewards. Gardens may be public or private and they are similar to digital investment clubs or hedge funds.

$BABL - The governance token for the protocol. It’s an ERC-20 token that controls the protocol parameters and treasury. The majority of $BABL is reserved for the community and will be distributed via a participation rewards program.

Garden Token - ERC-20 tokens that represents a member’s % ownership in a Garden. Members receive Garden Tokens in exchange for depositing capital into a Garden. Each Garden Token has its own symbol, set by the Garden Creator.

Strategy

  1. We could simply utilise $80k Treasury into our own Garden utilizing this strategy or something of a similar nature
  2. Auto-Quadratic Funding into chosen initiatives (Carbon Offsetting etc)

On why should we choose Babylon to pool liquidity instead of say $SUSHI?

Well they are early stage like us & supporting them could provide a long lasting relationship inspired by the Japanese concept of Keiretsu.

“A keiretsu is a set of companies with interlocking business relationships and shareholdings. In the legal sense, it is a type of informal business group that are loosely organized alliances within the social world of Japan’s business community.”

I think now’s a good time to utilise our unique set of circumstances and be prepared to utilise DeFi! current $TVL are around $71.5B for a reason & I think we should also be involved.

Babylon Finance’s Backers

Semantic Ventures, Harvest Finance, MapleLeaf Cap, Joseph Young & Fomosaurus

Babylon Finance Team

Context
Partnership with RAI
Beta Access to Babylon Finance Gardens
Voting on using the treasury within the DeFi sector

Conditions
RAI Vote is passed
Babylon Finance Vote is passed

Objectives

  1. Build bridges between 2 other communities: Reflexer Labs & Babylon Finance
  2. Diversify Treasury Assets
  3. Provide time to build the rest of the SEED & pSEED economy

Process

  1. Pass the RAI Partnership Proposal Aug 2nd or Aug 9th
  2. Invite Babylon Finance as guests to our Server to talk about their project (AMA Aug 3rd Scheduled)
  3. As a Settler I set up the METAGAME Garden
  4. Deposit Treasury within the Strategy earn yield & $BABL

SOI (Sources of Interest)

Reflexer Finance
RAI Partnership Proposal - Proposal: Add RAI to the Seed Pool
Reflexer Finance - https://reflexer.finance/
Reflexer Discord - https://discord.gg/G6SZSAvX32

Babylon Finance

Babylon Finance - https://www.babylon.finance/
Babylon Finance Lite Paper - https://docs.babylon.finance/protocol/litepaper
Babylon Finance Docs - https://docs.babylon.finance/
Babylon Finance Security - https://docs.babylon.finance/protocol/security
Babylon Finance Tokenomics - https://docs.babylon.finance/babl/tokenomics
Babylon Finance Discord - https://discord.gg/ZqUrdYvt5e

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gardens huh? sounds like a nice place to plant $SEEDs

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This is pretty great, and a nice roadmap you’re outlining @FearlessThompson!

I’d add to this that we should eventually move our pool to V2 on Balancer. On V2 there’s an option where a pool owner (MetaGame) can pull some liquidity out of the pool for investing. This would work great in conjunction with these types of investment strategies.

We also need to discuss what the investment Strategy for the “MetaGame Garden” would be, but that should be the subject of another discourse post. We also will likely want multiple gardens.

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Thats awesome, if thats the case we can have the best of both worlds regarding the LP & a dash of Yield Farming etc - We should consider our options for sure, I’d like to have the Rainmakers Guild Summoned in the next 6 weeks maybe. We should be creating a P2E business via Scholarships on Axie etc. There is a lot of opportunity atm

How are the steps looking for migration to V2?

Still trying to ascertain what we need to move this forward - I think the main area is just some things regarding MD but need to speak to Bacon again regarding this. If we can get into Blancer V2 we can utilise Liquidity in DeFi & We can create our Bonding Mechanism as an LP Incentive like OlympusDAO

I think we can move forward without MD at this point. This project is more a casualty of scope creep. With the changes in main-net gas fees we’re focusing on a side chain. After some debate(not an official one, just people talking about it here and there) it seems Polygon is the way to go for now. We need to remake the pool and seed minting platforms there, as well as our DAO and Multisig (Actually our multisig just needs to be in both places)

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This is a good thing, do we need a working group or just to rogue the whole situation into existence?

Currently my strat is just rogue into existence, but I think a working group would be the superior strat

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I can work with that as Im free from Shiller Champ stuff

Tbh I think we can do even simpler than that, no need to move Seed minting & relaunch the DAO imo.
We could just:

  • Mint like 6 months worth of Seeds
  • Make a new multisig & bridge Seeds to it
  • Start distributing from there :man_shrugging:

Then we can think about when & where we want to launch Trees once we start transitioning to phase 2…

Yeah, after talking with you and others it’s clear minting on another chain isn’t an option. We should bridge each mint of seeds and distribute on Polygon though, instead of minting and bridging a bunch in advance. (I think that would open up a whole can of worms we don’t want to deal with)

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