[FIP 023] - Deposit FLOAT and BANK on Euler + pool rewards check

In October and December the protocol ran a very successful BANK-ETH sLP bond program which resulted in the acquisition of roughly $675,000 in liquidity tokens. The FLOAT-ETH LP bonds are also performing well and have acquired about $220,000. We are now looking into ways of efficiently deploying that liquidity and finding ways that would benefit the protocol the most. One of these options is the newly launched Euler - a non-custodial protocol that allows for the creation of permissionless lending markets for any crypto asset

Additionally we’re happy with the current rewards distribution for our existing pools and would like to keep it as is for the time being.


Euler (https://app.euler.finance/) launched a couple of weeks ago and people are already depositing BANK there - in fact BANK is a top 5 market on the platform already. We would like to further strengthen the supply there and deploy up to $250,000 worth of FLOAT and up to $250,000 worth of BANK from our treasury. Additionally, this will put us in a great position for their upcoming Liquidity Mining phase - adding their governance token to our treasury from early on would guarantee us voting power for future reward distributions and would allow us to further lobby for benefits for FLOAT and BANK suppliers and borrowers.

Lastly, we’d like to maintain the current rewards structure for our pools until the core team sees a reason to alter it.

Is this still valid? I think we should take care of FLOAT - USDC or FLOAT - DAI liquidity. FLOAT is currently a very illiquid asset without a real usecase beside hodling and catch ETH momentum. But at the end user need to be able to sell it.