Proposal to distribute $NDX rewards on Ruler

Proposal to distribute $NDX rewards on Ruler

This proposal will be short and concise. I suggest we allocate 7k NDX tokens from the DAO treasury to incentivize liquidity for DEFI5 on Ruler Protocol for the next 8 weeks . The Ruler protocol team has agreed to provide matching rewards in $RULER to help us bootstrap these two lending markets.

Like we discussed in our last community call, we need to build more utility around our indices and leverage other DeFi protocols for doing so.

Step 1 was to build decent liquidity for DEFI5 and CC10 on Uniswap so that it could act as an ETF and people could market-buy it (as opposed to minting it).

The next logical step on our roadmap should be to let users use these index tokens as collateral, to leverage their positions and borrow against them.

Ruler is suited for this endeavor as it is the most flexible lending protocol when it comes to the deployment of new markets. We are thankful for their willingness to contribute $RULER rewards and would like to match their efforts.

Link to snapshot: Snapshot


I’m a big fan of ruler and a big fan of this proposal!

How about Rari Fuse ?

I’m not comfortable with supplying assets to the RULER/COVER guys.

Rari is doing a safeguarded launch but we could launch there later!


Why not? There’s a lot more questionable products to supply liquidity to than RULER or COVER.