Send 2.15M BLND To Backstop Manager
YieldBlox DAO proposes transferring 2.15M BLND to the Backstop Manager contract to bootstrap YieldBlox V2's backstop mechanism. The transfer enables the YieldBlox Security Council to manage funds and claim protocol emissions.
YieldBlox DAO is proposing a transfer of 2.15M BLND tokens from its treasury to the Backstop Manager smart contract on Soroban. The purpose is to create a bootstrap for YieldBlox V2's backstop mechanism at a minimum price of 80% of market value. The Backstop Manager contract, governed via Soroban Governor and managed by YieldBlox's Security Council, allows the DAO to claim the bootstrapped funds into V2's backstop without requiring additional governance votes. The Security Council can manage the backstop deposit and claim emissions directly. The contract code is open source and available on GitHub.
