ECH circulation

We are proposing that we spend the community pool funds, 5,000,000 ECH on buying half and half of ECS and DFY, providing the other halves as liquidity for the DeFi Platforms. There will be around 1.7m ECH left in the community pool funds that will accumulate for future events.

We, Guru Network, hereby resubmit our previous proposal #8 (https://app.ech.network/vote/8) due to lack of voter turnout in the previous week. This new proposal extends upon our usage of funds for greater purposes that have a bigger impact on visibility of ECH, especially bECH, in more wider ecosytems. We would like to extend our roadmap for the usage of the community funding, with the following milestones: 1. All that is mentioned in Proposal 8 2. Build a strong bECH liquidity position on Fantom, USDC/FTM/other-side tokens provided by our treasury 3. Incentivize ECH liquidity on Fantom via our partners (low-emission, long-term, equally matched by our treasury) 4. Whitelist bECH on premier Decentralized Exchange(s) and Liquidity Aggregators 5. Bootstrap Bribe-based vote procurement for 3rd party emissions on ECH-pairs (light incentives, long-term) 6. Once liquidity is sufficient, launch leveraged-farming, longs & shorts and borrowing & lending of ECH 7. Conservatively incentivize Trading and hence usage of Echelon Chain via Trading Competitions on DEXCH. Requested amount: 2,000,000 ECH (unchanged) At all points in time, the ECH will not be kept idle and utilized to extract maximum capital efficiency, including via dynamic-weight liquidity pools, decentralized index funds and other advanced DeFi vehicles, as pioneered by Guru Network and its associated partners. Our DAO governance has already approved and signalled its intention to fully support this proposal with its treasury via Snapshot voting held at eliteness.eth recently.

Mind Heart Soul applies to the community fund to manage a pool of 6M $ECH as incentives towards IBC operations via delegations from this pool, with the goal of having more and better relayers. Foundation has mentioned they want 5-10 relayers, recently 2 out of 4 relayers were on corrupted rpc's, i'm not entirely satisfied with ibcgo instance, etc yet with building happening that uses IBC relayed funds as foundation it's ever more critical to solidify. Mind Heart Soul management would include oversight and coordination, creating and updating delegations from the pool, help new relayers learn & establish their operations, create & evolve requirements, etc. It could potentially include tooling (e.g. scripts and / or grafana dashboard). Relayers wanting to receive incentives would need to meet evolving requirements. These could potentially include : operating your own RPC's, at least a client update every week, have certain ports (trpc / prometheus) open to a designated address, etc. As collective understanding & experience grows, additional / stricter requirements will be put in place (at least for max incentives), while keeping balance with being reasonable. We may also put bonus incentives for specific targets, e.g. running a different relayer software than the majority.

On discord i outlined a number of actions to be taken, to try improving echelon. I'm making 2 'community fund' applications for the 'chain health' category, as our chain is the foundation of everything to be built on top. This gov prop aims to double the 'relayer incentives' as we are too few operators. Same requirements as before, but effectively doubling the rewards, so more validators can be enticed to run a relayer.

On discord i outlined a number of actions to be taken, to try improving echelon. I'm making 2 'community fund' applications for the 'chain health' category, as our chain is the foundation of everything to be built on top. This proposal will start a 'new validator incentives' programme, to encourage new validators to join echelon. The goal is to fill up all slots and see all validators with a decent amount of stake. The programme will be operating on 'matching delegations' to ensure validators have some skin in the game, as well as setting conditions to ensure the programme indeed benefits the chain health.

On discord i outlined a number of actions to be taken, to try improving echelon. I'm making 2 'community fund' applications for the 'chain health' category, as our chain is the foundation of everything to be built on top. This proposal will start a 'new validator incentives' programme, to encourage new validators to join echelon. The goal is to fill up all slots and see all validators with a decent amount of stake. The programme will be operating on 'matching delegations' to ensure validators have some skin in the game, as well as setting conditions to ensure the programme indeed benefits the chain health.

We're now also establishing a development fund, at 12M ECH, the same size as the other programmes. The goal is to promote building on echelon. We'll set specific targets, but also open to reward own inittiatives should they benefit the wider community and meet requirements we set. A call to dev we'll open immediately is for 2 open source dapps that demonstrate use of VRF.

We're renewing frontier incentives for 2 months, including the pool fee, targetting approx 50% APR.

We're aiming to create foundaiton owned LP to increase liquidity. We'll try to make minimal price impact in doing so, yet take max 1 month to add it to pool 848.