Draft REP-01 - xRuler

Motivation:
The foundamental motivation of this proposal is to find ways to increase the useage of the Ruler token and increase the value of the ruler protocol. This token should not be used as farm and dump and the best ways to prevent this is to find different usecases for it.

Suggestion:
The most interesting reason for speculators/investors are economical reasons. Thats why i suggest that the Ruler token should have some kind of cashflow. The Ruler treasury (Zapper - Dashboard for DeFi) has already collected about 90k USD in the first week. So i suggest that we use the same system, as for Cover - xRuler:

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Benefits to the holders and the protocol:

  • every interested short or longtime holder will be able to earn an additional cashflow
  • xRuler would be a really good decentralized collateral on different websites like AAVE / Cream / Maker / Compound and in addition the user is still able to earn the underlaying protocol fees
  • because of this “buyback” there is a constant buying pressure for Ruler and that should increase the price of CVP in the long run
  • we dont need any audits, cause xCover is beeing Audited right now and its ready quite soon. So we can implement that idea quite fast.

If you have any question im sure the team is going to answer them cause they had the idea and coded it already for cover.

Big pleasure to be the first one posting here :slight_smile:

15 Likes

Good idea.

When will this be on Snapshot for voting?
https://snapshot.page/#/rulerprotocol.eth

2 Likes

This proposal is quite proving, there will always be speculators and investors, both the too are important hence neglecting them is surely will be bad, even thus ruler is valueless token at first, we can’t deny about people will find it valuable. Why will they, because ruler is first to provide non-liquidated loans, a challenging problems to thousands of users in crypto. In just last 2weeks, we have a dip in the market, over 25million of collateral were liquidated in DeFi, only in the next five minute things to turn normal. Weight the scenario, with ruler both lenders and borrowers will have felt better and business will move. That’s the value, so finding a way to make the token more useful will surely be best. I accept this, and look forward to think what can be added to make ruler useful.

1 Like

Very good idea. Totally agree

All that sounds good to me.

i like it. let’s vote.

Looks cool. What time can I vote?

很期待,让我们一起开始做出正确的选择吧。迫不及待想要开始投票了。

1 Like

good idea. totally agree.

I like the idea, people will dump the token into the Ruler community, creating a positive feedback. In the mid run it should decrease the circulating supply adding value to Ruler. Interesting idea. We should give it a try.

1 Like

Realy best idea true fan of this community well done keep up the good work

look good!!! keep going

good idea!
great job!

Hi Michael - Thank you for taking the time write this proposal. I have a couple questions for you:

  1. What % of the protocol’s fees will be used to purchase $RULER?
  2. “Every interested short or longtime holder will able able to earn additional cashflow.” - Can you please create an estimate of the additional cashflow that could be generated for an fixed capital investment of lets say $10K given that protocol fees generated are $100k/week?
  3. Is the underlying liquidity of $RULER a concern here?
3 Likes

Agree and could i propose staking the protocol also?

1 Like