11/26/25 Vote site bug prevented completion, resubmitted to On-Chain Vote: BankSocial #BSLDAO Token Governance - $BSL Social Governance
11/19/25 Moved to On-Chain Vote: BankSocial #BSLDAO Token Governance - $BSL Social Governance
11/15/25 MOVED TO TEMP CHECK
Based on the proposal approved by the BSLDAO back in 2022, a funds transfer of $100K was approved and initiated by the BSLDAO delegates (unanimously), up to the maximum amount voted on by the DAO. As part of putting that approval into operation & while developing the path forward for this utilization of BSLDAO SLP, it was recognized that real-time individual transfers of every transaction would not be economically feasible, and pooling the BankSocial Exchange Liquidity payouts into the routine (5th of each month) staking payment, was the best path forward to align with the intent of the previously approved agreement. By pooling those funds to the Staking Pool, the funds are still transacting in native $BSL and rUSD, as approved by the staking agreement.
An amended agreement is hereby proposed for discussion:
“The $1M Agreement”
The BSLDAO Agrees to fund the BankSocial Exchange with up to $1M from the BSLDAO SLP. The fee to be paid at the previously agreed upon 10bps, for every USD Buy & Sell utilizing the BSLDAO SLP. As $100K has already been approved and transferred, this proposal approves the BSLDAO Delegates to increase and transfer, in increments of no more than $100K, an additional $900K of SLP, for a total of $1M of BSLDAO SLP utilized. This agreement shall be open-ended, meaning it will not need to be renewed at any specific interval, until canceled by the BSLDAO. The BankSocial Exchange proceeds paid to the BSLDAO will be deposited to the Staking Mechanism/Pool and distributed accordingly. The BSLDAO Delegates and BankSocial team will evaluate agreement maintenance, such as a change in funding amount/modifying agreed upon terms outside of the intent of the previous or this agreement. Any larger deviation will be put to a BSLDAO-wide consensus vote through the governance process, such as this proposal.
All other terms of the BankSocial/BSLDAO Agreement remain the same.