Strategic Grant Proposal for Drip Finance [SIP - 1.59]

Summary :bookmark_tabs:

Allocate 50k USDC and 100k SPOOL tokens, from the Spool Treasury, as a grant to Drip, a project that has innovatively built on top of Spool and has secured a Total Value Locked (TVL) of over $21 million. This grant aims to support Drip’s continued development and integration with Spool.

Drip Links

• Website: Drip Finance
• Web App: Drip Finance

Proposal :mailbox:

Drip has demonstrated significant potential and alignment with Spool’s strategic objectives by building solutions on top of our platform. To help them continue to innovate and enhance synergies between our projects, we propose a grant comprising 50k USDC and 100k SPOOL tokens.

Grant Details

• Financial Support: 50,000 USDC to fund ongoing development and operational costs.
• Token Grant: 100,000 SPOOL tokens (Drip commits to locking its SPOOL allocation), aimed at deepening Drip’s tie to the Spool ecosystem and it’s future development and success.

Motivation :fire:

Backing Drip does more than just strengthen a crucial partnership, it demonstrates to other projects the possibilities of building on top of Spool. The locked SPOOL tokens by Drip will also illustrate a strong vote of confidence from partners in the future of Spool, potentially leading to increased token stability.

Additionally, this grant will show Spool’s dedication to supporting partners who effectively leverage our technology to develop compelling use-cases. By doing so, we promote the growth of our platform and solidify Spool’s role as a core middleware in the DeFi space.

Vote Options :ballot_box:

Yes: Approve the grant of 50k USDC and 100k SPOOL tokens to Drip, supporting their future projects and collaboration with Spool.
No: Reject the proposal to allocate these funds and tokens to Drip.

The vote takes place here

Timeline :clock130:

  • Voting Period: June 3, 2024 → June 10, 2024