MIP# 57
Vote Option:
Vote option:
Yes
No
Objective:
The MVC ecosystem has made significant strides with the introduction of the BTC asset bridge, upgrades to the Metalet wallet, and the latest versions of Ticket and MVCSwap. These advancements have positioned MVC as a robust closed-loop ecosystem within the Bitcoin sidechain domain, distinguishing it as a comprehensive player in the Bitcoin Layer 2/sidechain arena. However, there is a disparity between the progress made and the ecosystem's visibility and growth.
It is imperative to collaborate with key ecosystem projects to enhance MVC's reach, bolstering its presence and influence in the industry. Our aim is to introduce a wider audience to the BTC asset cross-chain capabilities, diverse BTCFI applications, and a range of Web3 experiences provided by MVC. By highlighting MVC's unique strengths as the leading Bitcoin sidechain, we seek to attract a significantly larger user base than the current MVC community through innovative MVC ecosystem applications.
Proposal Summary:
Section A: Liquidity Pool & Liquidity Rewards Objective: Establish an initial wSpace/BTC liquidity pool on the MVC chain following the completion of the BTC to SPACE bridge by ecosystem projects.
Allocate a fixed amount of SPACE per block over a 3 to 4 month period.
Budget Allocation: 40%
Transfer budget resources to the liquidity service provider for the preparation of the pool setup.
The initial setup schedule is pending confirmation, contingent on market conditions.
Section B: Media Engagement Engage in media interviews, exposure campaigns, various collaborations, Twitter Spaces sessions, and other exposure initiatives.
Budget Allocation: 30%
Section C: Activity and Campaign to Facilitate Interaction within the MVC Ecosystem
Budget Allocation: 30%
Total Budget: 120,000 SPACE
Note: Budget distribution for each section, details, and schedule are subject to adjustments based on real-time conditions.
Parts B & C arrangement above include but are not limited to:
Ecosystem Loop Introduction:
1) Introduction of various ecosystem components from bridges to wallets, DEX, meme launchpads, and socialfi dapps.
2) MVC stands as the leading Bitcoin sidechain, facilitating the seamless conversion of Meme coins back to Bitcoin for secure storage.
3) MVC Meme coins offer benefits comparable to Solana and BNB, boasting low fees and a thriving ecosystem.
4) Meme coins support a wide array of Web3 applications, unlocking boundless opportunities for meme utility.
5) Future Second Exposure Wave: DeFi applications on Bitcoin can harness Bitcoin assets on the sidechain for enhanced functionality. Let's usher in a new era for MVC together!
Proposal agreed by all department head:
The proposal has been agreed upon by all department heads as it aligns with MVC's best interests. Responsibilities are divided as follows:
Development: Media interviews and content preparation.
Exposure: Promotion and awareness initiatives.
Administration: Administrative tasks such as poster design, AMAs, and event coordination.
Finance: Funding and compliance review.
Each department executes its designated tasks.
Disclaimer and Remarks:
1) Disclaimer on Investment Intentions
Due to regulatory compliance and legal purposes, in the Official MVC Channel and general real life conversation, Space cannot be acknowledged or discussed as an investment vehicle. Please respect the official channel policies and adhere to them, as they are mandatory for all members. Thank you for your understanding.
Decisions to acquire or use Space for speculative or investment purposes are solely at the discretion of the individual. MVCDAO explicitly disclaims any responsibility for losses that may arise from such actions. Members are urged to exercise caution and make informed decisions.
2) No Assurance on Space Value
Please note that MVCDAO does not make any commitments or guarantees regarding the value of the network gas: SPACE.
3) No Investment Advise:
This proposal is focused on enhancing the visibility and sustainability of the MVC network. It is important to note that the arranagement mentioned in this proposal do not constitute investment advice. Participants and all members should refrain from interpreting it as such.
4) Limitations of the Finance Department:
The finance department can't simply wave its magic wand and make every other department and builder program efficient, effective, and free from fraud.
4A) Efficiency and Effectiveness: Not Guaranteed by the Finance Department:
The finance department focuses on the numbers, but other departments might prioritize strategic goals that are more about long-term growth than immediate, short-term efficiency. It's up to each department to use the budget resources effectively.
Imagine giving someone all the ingredients to bake a cake; the result depends on the cook who bakes the cake. Similarly, the finance department allocates the resources according to the budget and authorization criteria, but how those funds are used is up to each department's expertise and the overall condition of the industry.
4B) Fraud: Not Guaranteed by the Finance Department:
It is not within the purview of the Finance Department to ensure the operational smoothness of other departments or to prevent third-party fraud. Various departments should conduct thorough due diligence to mitigate the risk of external fraud.
4C) Builder Program: Not Guaranteed by the Finance Department:
The subsequent operation of applications coming from the builder program is not monitored or endorsed by MVCDAO and the finance department. All members should exercise caution for any engagement with applications coming from the builder program in the future.
4D) Clarification of Confidentity Rule
In the dynamic world of blockchain, striking the right balance between transparency and confidentiality is crucial for partners, vendor names, and their associated costs, especially when it comes to financial disclosures in public relations efforts. We can only disclose categories rather than exact costs and vendors to the public.
Here's a streamlined overview of the importance of maintaining confidentiality:
Competitive Edge: Keeping transaction costs private safeguards strategic insights from competitors, preserving a project's competitive edge.
Negotiation Leverage: Confidential financial dealings enhance a project's bargaining power with vendors, potentially leading to more favorable terms.
Partnership Dynamics: Revealing partner details and costs may deter potential collaborations.
Vendor Relations: Respecting confidentiality agreements with vendors may necessitate limited disclosure of specific details and costs.
4E) Payment Flexibility to protect vendor and service provider interest:
For a service or vendor costing 5,000 USD, department heads are authorized to pay up to around 5,250USD worth of space to accommodate the fluctuations issue. This flexibility ensures the protection of interests for both vendors and service providers at the time of transaction in accordance with the standards detailed in Section 14[MIP-39].
Disclaimer point 5A to 5E outlines the limitations of the Finance Department's responsibilities, emphasizing the collaborative effort required across departments and the DAO to achieve organizational objectives effectively.
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