LOBISs a governance protocol, it intends to collect governance tokens and use them to vote in other protocols …
but after collecting $m in FXS , they still cant be bothered to read the governance process so seem to think that its the teams job to post this proposal as a governance vote for them. Again showing their incompetence and lack of understanding about our governance process.
I have to agree. There are some fairly concerning internal governance issues as well.
Sorry ser, needed to wait for a technical adjustment to snapshot rules, that’s why the vote didn’t take place yet.
- we have locked our FXS;
- we vote with 100% of our Toke for the Frax reactor;
- we have market bought c.$10m worth of FXS;
- LOBI is trading below its backing value, and backing is made of FXS, TOKE, CRV, SDT, ANGLE and OHM, only high quality asset that should give comfort on the limited risk of this token swap;
- The Snapshot technical issue has been fixed;
We will push this proposal to voting.