Prop 50: Sail with the Whale
Summary This proposal seeks the Chihuahua Chain community's support for joining the White Whale SAIL Program, ensuring continuous and extended backing from the RIDE group. We can accelerate Chihuahua Chain's growth and expand its ecosystem by injecting four billion HUAHUA tokens from the community pool into the RIDE group's applications. The community will keep custody of these funds at all times.
What is the RIDE Program? The White Whale RIDE Program is an initiative to enable protocols to operate on multiple chains within the Interchain, thus minimizing the risks and limitations associated with operating on a single blockchain. Projects that join the RIDE Program can launch in new markets, gain access to extensive communities, tap into liquidity, leverage knowledge and expertise from a veteran team, and enjoy vertical integrations and cross-chain capabilities. You can find more information about the RIDE Program here: https://medium.com/@whitewhaleterra/the-white-whale-ride-program-unlocking-the-power-of-the-interchain-aa16d5d50dd.
What is the SAIL Program? Building upon the RIDE Program, the SAIL Program aims to assist blockchain ecosystems in achieving rapid growth. It provides ecosystems with access to vital applications, communities, and liquidity. Participants gain priority access to RIDE participants' products, swift deployments of an entire product suite, community expansion, enhanced on-chain liquidity, streamlined token listing, and continued cross-chain support. You can find more information about the SAIL Program here: https://medium.com/@whitewhaleterra/the-white-whale-sail-program-accelerating-ambitious-blockchain-growth-64d59fe46104.
Past Achievements White Whale has remained the leading exchange and flash loan provider on the Chihuahua Chain for almost a full year. Eris Protocol and Backbone Labs introduced two liquid staking tokens, ampHuahua, and boneHuahua. Additionally, Raccoon has established games and an NFT marketplace, further enriching the ecosystem. Together, the RIDE group makes up most of the ecosystem on the chain.
Why Join the SAIL Program? Joining the SAIL Program will bring continuous innovation and support from the RIDE group to the Chihuahua Chain. If the proposal passes, the Chihuahua community will inject four billion HUAHUA into the applications of the RIDE Group, bolstering liquidity and facilitating the development of innovative products and applications. Specifically, the community will send the tokens to a 3/6 multi-sig (chihuahua10guxn5tnsnjwrky0wc7uj3c33g6l76g83dgug4) consisting of the following key members of the Chihuahua ecosystem: Zdeadex (Chihuahua) Woof (Chihuahua) Chi (Chihuahua) JG (Backbone Labs) Philip (Eris Protocol) Moltres (Racoon) This consortium of individuals has a long track record of supporting the Chihuahua Chain and will always safeguard the community's funds. Once the funds have arrived, the consortium will liquid stake two billion tokens: one billion via the Eris Protocol, receiving ampHuahua, and one billion via Backbone Labs, receiving boneHuahua. In a final step, the consortium will pool the liquid-staked tokens with the remaining two billion tokens from the proposal on the White Whale protocol. With this approach, the community will always keep custody of the funds. The team guarantees that the funds will not be sold on the market. If the community is unhappy with the performance of the RIDE group, it can withdraw from the SAIL program via a governance vote at any time and redeem the utilized tokens. The SAIL Program's broader vision includes supporting HUAHUA within the Chihuahua Chain and across chains. This support can involve listing HUAHUA as collateral for lending and borrowing platforms, thereby integrating Chihuahua Chain into a larger, interconnected blockchain ecosystem. From the perspective of the RIDE group, this proposal increases the TVL of Backbone Labs, Eris Protocol, and White Whale. Higher TVL usually leads to more volume and, consequently, fees generated for the protocols and the Chihuahua Chain.
Call to Action Integrating Chihuahua Chain into the SAIL Program represents an opportunity for unbridled growth and innovation. By committing to this program, Chihuahua Chain can tap into a vast reservoir of applications, community support, and expertise that can steer the project into new realms of success. We appeal to the Chihuahua Chain community to vote in favor of this proposal, laying the foundation for a vibrant, innovative, and interconnected future for Chihuahua Chain within the blockchain space.