Hi Sushi community, I’m Bao man of Bao.Finance, and we’re on a journey to make dynamic tools to empower synthetic markets and balancer automation on top of LP tokens. (Which you can read more about on https://docs.bao.finance)
After talking with 0xMaki, he asked me to create the following proposal here.
As a self taught solo dev, I bit off a lot and while we’ve had a few bumps along the way, I’m really proud of the little community we’ve built. I had a dream to build these interconnected features ontop of LP providers and when no one else saw that vision I decided I’d have to learn to build it myself. But I knew there was only so far I could go alone. I knew it didn’t make sense to try and rebuild the entire stack or to launch my own AMM, so I started with the idea to build these features on top of other protocols.
To start our yield farming for launch and distribution of the governance token had focused on Uniswap and was set to expand to SushiSwap.
However, after a conversation with 0xMaki, and seeing the current state of Uniswap’s governance, we decided it may be best for us to work on a partnership for Bao to build exclusively on top of SushiSwap.
To this end, 0xMaki and I are proposing the following governance proposal:
-SushiSwap will award a 5k $SUSHI builders grant to Bao.Finance
-SushiSwap will help provide technical mentorship support to BaoMan
-Bao will migrate all its pools to using SushiSwap LP tokens
-Bao will build its synthetics, stablecoins and balancer features to exclusively interact with SushiSwap pools.
The $SUSHI will be paid only after the migration of the pools so that it helps the SUSHI TLV.
After talking to Maki and learning about the SushiSwap community, I’m impressed by the deep values we share.
I’m not around to shill a product, in fact, you can ask our community, I’ve been the first one to tell some users that Bao may not be a good fit for them if they don’t understand the risks or don’t have the patience to focus on a long term project, and our economics are designed very much for the long term.
I see a future with a product stack owned and operated by multiple community run ventures that are each supporting each other, and I believe deeply that a rising tide lifts all ships.
If you had asked me a month ago if I would ever offer for Bao to be exclusive to one community, I would have said you were crazy. But in proposing to partner with Sushi, I don’t see this as an action of exclusion, I see it as the ultimate action of acceptance, in growing a community that believes in openness and supporting new projects.
Over in our little Bao community, we’ll be holding a vote of our own to approve this partnership and I encourage the Bao community to endorse and approve this governance action; and I hope that here in the Sushi community you will do the same so that we can start on a journey of making delicious meals together.