SLURP-19 | SmartCon 2024 Hong Kong Treasury Allocation

SLURPs
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Abstract

We propose allocating $44,500 from the stake.link Treasury to sponsor SmartCon 2024 in Hong Kong. This sponsorship will enhance the visibility of stake.link branding and distribute informational content to conference attendees. This proposal seeks approval from the stake.link DAO.

Rationale

To make an informed decision regarding this request for funds, it’s essential to provide context on Hong Kong’s role as a Web3 innovation hub, its relationship with Chainlink Labs, and the benefits of sponsoring SmartCon.

Hong Kong as a Web3 Hub

Hong Kong is a leading financial center in Asia, known for its innovation in finance and technology. Here are some key statistics from 2022:

  • Raised over 100 billion HKD in IPOs.
  • Largest issuer of Asia International Bonds for seven consecutive years.
  • Assets Under Management (AUM) of 4 trillion HKD, growing at 30% over four years.
  • Number one in Asia for insurance density.

Hong Kong’s financial success is due to its common law legal system, free flow of capital, zero-fee currency convertibility, and strategic positioning near major cities like Beijing, Seoul, and Singapore. Additionally, Hong Kong benefits from preferential access to mainland markets and investors.

Hong Kong is also becoming a global hub for Web3, blockchain technology, and the tokenization of real-world assets. Notable developments include:

  • The October 2021 policy statement on virtual asset development.
  • Successful tokenized securities projects like the HKSAR tokenized green bond and UBS Tokenized Warrant.
  • Stablecoin Issuance Framework.
  • Licensing regime for crypto exchange operators.
  • Wholesale CBDC pilot.

In November 2023, the Hong Kong SFC also issued circulars on tokenized securities, treating them as traditional securities with digital controls. These guidelines especially support and recognize the need for blockchain agnostic approaches as well as recognizing various blockchain types.

Hong Kong’s Relationship with Chainlink Labs

At SmartCon 2023, Chainlink Labs’ CEO Sergey Nazarov hosted a fireside chat with Joseph Chan, Under Secretary for Financial Services and the Treasury of Hong Kong SAR. They discussed Hong Kong’s role in global financial markets and how Chainlink Labs supports their digital asset adoption.

In a recent article by TechCrunch here, Sergey Nazarov revealed that Chainlink was invited by Hong Kong government officials to host SmartCon in the city, indicating a deep relationship. High-ranking Hong Kong officials and notable figures in the tech industry, capital markets, and Web3 will attend SmartCon 2024, providing valuable exposure for stake.link.

Benefits of stake.link Sponsorship

Sponsoring SmartCon will provide extensive visibility for stake.link to key figures in Tech, Web3, Finance, and the Hong Kong government. Hong Kong’s focus on tokenization requires cross-chain interoperability, a core offering in the Chainlink Platform, but by no means the extent of the needs Hong Kong and its regulated entities will have, which will include the full suite of the Chainlink Platform as listed below.

chainlink platform
chainlink platform2048×1153 205 KB

Stake.link as the first-mover third-party delegated liquid staking protocol for the Chainlink Ecosystem will benefit from this exposure. This sponsorship will help stake.link continue to grow its presence and influence in front of major industry and government figures.

Outline of the Sponsorship

We request that the DAO allocate $44,500 of Treasury funds that will cover the following:

  • Tote Bag Insert: Every SmartCon attendee will receive a tote bag with a stake.link brochure detailing the protocol’s value proposition and contact information to explore potential synergies and collaborative efforts.
  • Chainlink Labs Closing Party Support Sponsorship: stake.link branding will be prominent at the conference’s closing party, attended by prominent conference attendees.
  • LToadNFT Pre-Conference SmartCon Event: stake.link branding will feature at this expanded pre-conference event, increasing visibility among key community members and broader Web3 audience.

Payment Mechanism

Core Contributor of the stake.link protocol LinkPool will front all costs associated with the proposed sponsorship to ensure payment is made in a timely manner.

Upon passage of this SLURP by the stake.link DAO, a one-time transfer of $44,500 worth of SDL will be transferred to Core Contributor LinkPool and sold via algorithmic trading over a 90-day period.

Ending Thoughts

Stake.link has established itself as a key player in the Chainlink Ecosystem, and this sponsorship will reinforce its position as the leading third-party delegated Chainlink Staking Platform. The benefits of this sponsorship are poised to be significant, leveraging the presence of influential attendees at one of the premier annual conferences in the industry.

We ask the DAO to approve this expenditure to capitalize on the opportunities presented by SmartCon 2024.

3 Likes
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I am in favor of this slurp, it will bring increased exposure to the protocol and help solidify the brand presence in the chainlink ecosystem.

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this slurp is good, a seat at the table is priceless,

on the flipside 44k selling pressure will be seen, can only DCA through as community member which sucks knowing most the volume coming through will be selling

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Incredibly fascinating proposal.

My understanding is that Jonny will not be readily available to attend smartcon this year. And so, I am wondering who will be in Hong Kong to lead this sponsorship for maximal effect.

Is this the sort of thing that perhaps, even though Jonny will not be physically available, is there any potential for Jonny to provide a 10-15 minute tele-conference presentation?

I think this can be a very powerful and very useful campaign to raise awareness of the sdl protocol. Can we also recruit NOPS to perhaps provide a bit of overview on what they do. Like a 15 x 15 minute series on what NOPS can do in a broader chainlink ecosystem.

My desire would be for a maximally informational campaign–for both technical and non-technical folks.

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Hi Candide,

Thanks for the comment and I hope you are well.

Jonny will unfortunately not be able to attend this year due to timing conflicts with outstanding commitments. We did explore remote ideas but don’t believe it makes sense at this time as we would prefer to have Jonny in-person, shaking hands and meeting with conference attendees.

We have every intention, however, of scheduling Jonny for an in-person Panel and/or Keynote Speech at SmartCon 2025, and have even floated the idea of a dedicated stake.link Panel. These are just discussions / ideas that we’ve had — nothing concrete or finalized.

That’s a year off, but SmartCon 2025 will be here before we know it. We believe the proposal at this time is for the best too as the protocol will continue to make strides in capturing more LINK Staked as well expanding to new network opportunities by the time SmartCon 2025 comes along, with one example being the coming deployment to Metis.

As part of this Sponsorship Package that’s been discussed with Chainlink Labs, Core Contributor LinkPool would be provided conference tickets for team members to attend. If SLURP-19 is passed, we’ll have a mix of both technical and non-technical people present.

To answer your question, I will be leading the charge on this Sponsorship for maximal effect as the Head of Business Development efforts for LinkPool. My directive at this conference will be to shake as many hands and make as many connections as I can — this is my strong suit that I’ve excelled at during my time at LinkPool and during my time in Silicon Valley.

Although Jonny can’t attend, our plans and objectives would not be impacted. We will make meaningful connections, we will uncover new opportunities, and we will bring home Wins for stake.link.

Maximally informational campaign for both technical and non-technical folks is a great way to put it, and that’s what we’ll deliver.

Cheers and let me know if you have any follow-up questions or thoughts.

Best,

Matias

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This seems like a no brainer to me. The perfect place (city and conference) to get SDL exposure for less than $50k. Funds well spent.

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A very good use of Treasury funds.

  • As @candide stated, I think it would be great if there was a stake.link presentation this year. A short 10 or 15 minute presentation talking through how the protocol works in simple but clear terms could be really helpful. Similar to what the X marketing videos put out last year were doing. I do think having videos up on YouTube etc. under Chainlink/SmartCon branding can help marketing a lot.
  • How many team members in total will be present at the event through this funding?
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Fully support this slurp. As some mentioned ‘no brainer’
Cheers

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I will be supporting this proposal too - I feel like SmartCon is the perfect place for marketing and showing LINK holders stLINK is here to stay, worked flawlessly on-chain since it’s inception, and simply a superior asset, pegging it directly to 15 top NOPs. LFG! <3

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Cheers EqS.

We still do not have a final # on headcount. This is being determined by EOD Friday this week, but the team members that do end up going will be given VIP Passes by Chainlink Labs. I anticipate that it will be a total of 5 people, but no more than 6.

Unfortunately, Social Media promotion or a panel / keynote is not part of the package that was offered by Chainlink Labs, but as mentioned in an earlier post, this is an intention of ours for SmartCon 2025. I can’t wait for that myself.

Best,
Matias

1 Like