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Blockchain Founders Fund (BFF) is an investor in the Splinterlands company, a large asset holder in the game and the SPS governance token. BFF has worked with its extensive connections in the Web3 space to help to bring value to the Splinterlands ecosystem.
Exchange listings in particular can be extremely beneficial for the SPS token as it opens the token (and indirectly the Splinterlands game) up to new markets and provides additional liquidity and legitimacy to the project.
Most exchange listings, however, require tokens to be spent or locked up for listing fees, initial liquidity, promotions, and deposits, so BFF would like to request that the DAO approve up to 20M SPS tokens from its treasury to be available for securing new exchange listings for the token for a period of one calendar year from the date that the proposal passes. For context, the DAO treasury currently holds over 126M SPS tokens, as was reported in the latest DAO treasury report.
The listing agreement for the vast majority of exchanges does not allow any information about the listing to be made public until the exchange announces it, so it will not be possible to include specific exchange details in a public SPS governance vote. This is why we are requesting that 20M SPS tokens be allocated generally for this purpose so that we are able to secure new exchange listings without violating any confidentiality agreements.
BFF will do its best to ensure that the expected value received from any new exchange listing exceeds the value of the SPS tokens that are required to be spent for the listing, and will use its connections and industry experience to negotiate the best possible deals for the benefit of all SPS holders.