[Opening]
Authors: Bankless DAO Writers Guild (Ap0ll0517)
This is the official newsletter of the Bankless DAO. If you were a Premium Member of the Bankless Newsletter as of May 1st 2021 you have been subscribed to this newsletter at launch.
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The BED Index launch is tomorrow! This is such a monumental moment for the DAO. Not only is BED generating revenue for the DAO, it is a full portfolio solution intended for beginners. It embodies and represents the Bankless persona; it represent the DAO. This is how we help 1 billion people go Bankless.
As BED is primarily aimed at customers at the start of their DeFi journey, such a limitation to exchange issuance is not desirable. To avoid that, there needs to be sufficient liquidity for new buyers. The Index Coop team passed IIP-54, and will be contributing $250K of seed liquidity to bootstrap the BED:ETH pair on Uniswap V3.
Our community is expected to contribute to the bootstrapping fund as well. Right now there is $50K in the pool, we need to provide an additional $200K. Deeper liquidity equals less slippage, which is a much more favorable experience for the Defi noob. This is what we want to help facilitate as a community. It's time to put our money where our mouths are.
We can mint BED from TokenSets using this link. We can also add liquidity here. This is a call to action for all members. The DAO needs you! Let's help the world get in BED!
<aside> ⚠️ With over 6,000 members, if every DAO member simply purchased 1 BED token and provided it to the BED:ETH pair on Uniswap V3, we could add over $500K and create deeper liquidity.
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Hint: There are perks boiling in the DAO pot! There could be special POAPs for BED holders and liquidity providers! There are also discussions for BANK + INDEX retro for anyone that mints and LP’s BED prior to launch!