DFP 16: Transfer the DAO’s holdings to PARROT9 so they can enact their vision for Balanced
ICON is merging with the Balanced protocol to become SODAX, so PARROT9 will take full control of the Balanced product direction and switch to a fee-based incentive model.
Our goal: make Balanced useful AF — the true one-stop shop for cross-chain DeFi.
We plan to complete the transition to the SODAX infrastructure, add money markets, and then support multiple protocols through widgets.
To enact our vision and make Balanced self-sustainable, we need time for deep focus – without the uncertainty of funding to distract us.
So, as discussed in Our vision for Balanced, this proposal requests the entirety of Balanced’s holdings.
This includes the DAO Fund, Reserve Fund, and protocol-owned liquidity. We’ll convert all BALN to SODA, so not a single BALN token will be sold.
Based on the current value (~$560k, or ~$468k excluding BALN), this will keep our team funded for over a year, allow us to bring on extra dev resource as needed, and cover the cost of hosting, user testing, and representing Balanced at events (we’ve applied to speak at Meridian 2025).
UPDATE: As the community rejected our initial proposal, our resubmission only requests the DAO Fund and the Reserve Fund (currently ~$500k). Protocol-owned liquidity will not be touched: all BALN and sICX will remain in the liquidity pool until someone submits a proposal to distribute it among bBALN holders.