LIP-30: Treasury Reorganization

title: <Rework the Lens Treasury>
description: <Diversifying Lens's Treasury>
author: < (@zkjew,) >
discussions-to: <Lens>
status: Draft
type: <Protocol>
category: <Treasury>
created: <(2024-08-09) >

Abstract

<!--- Lens protocol has undergone a vast amount of growth over the past year. This is showcased in Lens’s treasury holdings which boast over $500,000 dollars in value accrued from mainly Lens profile and handle mints. The goal of this LIP is to foster discussion and a layout a plan for proper treasury management.--->

Motivation

<!--- Currently, the majority of Lens’s funds have been stored in MATIC as it is the gas token for the polygon POS chain that Lens currently inhabits; however, Lens’s current V3 visions will see a migration away from polygon to “Lens chain” and will need various different payment tokens that is not just matic. In addition, matic has been seen to be a less than satisfactory investment when compared to its competitors. Furthermore, treasury diversification should be done in order to support Lens’s long term needs in terms of subsidies of gas for high quality users.--->

Specification and Rational

<!-- Lens protocol should diversify its treasury into the following basket of assets ETH (50%) to pay for DA gas on ethereum and as a better store of value comparatively to matic, additionally 10% should be held in LINK to pay for CCIP bridged data to Lens chain. Also, 10% should be held in AR to store posts on areweave, 10% should be saved in MATIC for profiles that prefer to use Momoka, 10% should be held in ZK in order to allow for Lens to scale high throughput interactions using zkporter, and 10% should be allocated to buying and supporting Lens’s main currency $BONSAI through burns, airdrops, or other incentives like liquidity provisions or burnt liquidity. To manage this, Lens will DCA into these holdings when the revenue meets a certain benchmark for all new profile mints and will retroactively DCA the old mints in a responsible manner. -->

Backwards Compatibility

<!--- No backward compatibility issues found. --->

Copyright

Copyright and related rights waived via CC0.