[PROPOSAL] Issue a grant to build a Vote-Markets protocol

Summary

As everyone knows, Saber is built to be the Curve.fi of Solana. On Ethereum, Curve has more than one so-called “bribe protocol” or “vote-markets” protocols built on top of it, such as Convex, Votium, and Hidden Hand. One of the missing parts of the Saber DeFi model in my opinion is what was previously known as Sunny - A so-called bribe protocol. This proposal is about that, to request funds from the DAO treasury so that a new bribe- AKA votes market protocol can be built.

Interestingly enough, Solana does not even have a single vote-markets protocol. Therefore I have taken the initiative to see this through, for the benefit of Saber and SBR (veSBR) and the broader Solana DeFi ecosystem, and I’ve spoken with several different parties within the Solana community to create a cohort, or alliance, to make sure that Solana has a protocol that can serve this function, not only for Saber, but also for the whole Solana DeFi ecosystem

Each of the members of this cohort is providing any of the following

Grant funds
Developer resources
DeFi expertise and knowledge

In this cohort we have the following teams/projects participating, and will provide as described:

SaberDAO: Grant funds + cohort coordination
UXD Protocol: Grant funds + tech review https://uxd.fi/
SolBlaze: Grant funds + tech review https://solblaze.org/
MetaDAO: Development, management, and ownership. https://themetadao.org/

Motivation

Recognizing Solana's lack of a vote-markets protocol, SaberDAO, UXD Protocol, SolBlaze, and MetaDAO have initiated a collaborative effort to see this through.

Each participant contributes grant funds, developer resources, or expertise.

SaberDAO, UXD protocol, and SolBlaze are providing $50,000 each, creating a total grant of $150,000 which will see to both building the Votes-markets protocol starting with supporting SBR/veSBR, and for future integrations, updates, new integrations, and maintenance.

MetaDAO, known for its innovative governance approach, will receive the full grant and oversee the development and ownership of the new "Votes-Market" protocol.

The decision to create it as a standalone protocol with its own token, benefiting the entire cohort and the broader Solana DeFi ecosystem, reflects a collective commitment to its success. The protocol's operation and maintenance will be entrusted to MetaDAO, with token shares distributed among the participating DAOs.

This is the token distribution plan:

74%: Liquidity mining 21%: 7% SolBlaze DAO, 7% UXD Protocol DAO, 7% SaberDAO 5%: Individual contributors to the new votesmarket/bribe protocol.

Please note that the intention for the SaberDAO allocation is to fully distribute it to all veSBR token holders.

MetaDAO has had a governance vote on the matter, and it passed, making us ready to vote on allocating funds for a grant to MetaDAO to build this votes markets protocol. You can read about the details of the MetaDAOs proposal here: https://hackmd.io/@jlPYU3_dTOuQkU5duRNUlg/rkhWWXjLp

Expectations

Increase the utility of SBR and veSBR
Expand the Saber pools use-case in DeFi
Get one of the last parts of the Curve model puzzle in place for Saber.
Improve Solanas DeFi ecosystem with a votes-market protocol AKA bribe protocol
Propel collaborative DAO initiatives together with the cohort of participants in this endeavor and set an example for the rest of the Solana DAO ecosystem.
SaberDAO receives a 7% share of the new vote-markets protocol’s tokens total supply, where the intention is to distribute the allocation to veSBR token holders.

Actions

Allocate a total of $50,000 from the DAO treasury to pool a grant together with 2 other parties, which will total the grant at $150,000. The funds will be used to fund the development and future management of a vote-markets/bribe protocol on Solana. Other participants in this grant pool is UXD protocol and SolBlaze.
The SaberDAO receives 7% of the token supply from the token of the Votes Markets protocol.

saber-hq / governance