This proposal is to request approval from the Migaloo community to join the amazing RIDE program and to build out Ginkou "The Bank of Alliance" that was recently deployed on the Migaloo blockchain.

Now, this part is normally where a team goes into a whole long prologue of what they are looking to build in the hope they can show you what they are thinking of building in text form. Luckily enough for everyone reading this and for the person typing this, all you need to see is here:

www.ginkou.io — That's right we have built v1 already!

Ginkou are a group of industry professionals with experience in Blockchain Technology, UI/UX design, smart contract development, infrastructure design and much more. We have recently joined forces with Cavern Protocol which has allowed us to deliver the first version of Ginkou audited out of the box. We were aware of the fact White Whale wanted a Money Market to bolster the use-case of the Migaloo chain and given our commitment to the chain (ERIS Validator Wars are a prime example of our commitment) with our validator and relayer services we quickly decided we were going to build Ginkou on Migaloo.

We share the vision of the White Whale team and we will work closely with them to build out a money market that follows their quest for Interchain greatness. Where White Whale goes, Ginkou will most likely follow.Up until now this project has been wholly self-funded, both financially and time-wise, and we are very pleased with the results of what we have built so far. But now the time has come to take this to the next level and this is where a request for funding comes in so that we can build what we think will be the Money Market for the interchain vision.

Here is what we have planned to build during the course of the remainder of Q4 + beyond and what stakers of 'XYZ' (more of this later) will be able to access on Ginkou.

Working with the White Whale team to create a migaloo native stable denom — YES YOU READ THAT CORRECT!!! Liquidation and arbitrage bots Enhanced position monitoring for borrowers Auto-conversion of liquidated collateral into denom of your choice Liquidation protection Support for multiple stable-coins Parameterisation of various components in the protocol which will be governed by our users. Overall enhancement of metrics on the platform Auto-compounding (choice of frequency) of USD for depositors (Saving vaults) Fiat on/off ramp Work with the premier LST providers ERIS and Backbone to create a LST of 'XYZ' — these will be added as collateral on the dApp, but the take fee will be less to recycle to token holders and used to incentivise borrowers Create mobile app version (phone + tablet) for iOS and Android Build leverage functionality native to Ginkou We have been asked by many people why we launched without a token, the answer has always been fairly simple: A token needs to have utility and we never wanted to have a token that was just used for emissions. We now have a platform to build from so now we can start talking about a token.

Let's start with the fun stuff; Airdrops, and who will be eligible:

$WHALE stakers Liquidity providers on White Whale DEXes Eris Protocol and BackBone Labs LSD users To be announced ecosystem partners Ginkou Collateral depositors Ginkou USDC depositors — this time size matters ;-) Burnt whale, got $ASH? Yes you will qualify! Ginkou NFT holders (yes NFT's with utility are coming!) In order to not be front-run by token creators, our token, for now, will be known as 'XYZ' and in order to try and keep the tokens utilised in the ecosystem, 25% of the airdrop will be claimable upon launch. 'XYZ' will be minted using the Migaloo Token Factory. The ticker has already been decided upon and we have prepped listing forms for CoinGecko and CoinMarketCap. That being said, there is a bounty up for grabs for the person that changes our mind!

The remaining 75% will be released based on the following criteria:

X — Stake 'XYZ' token to release 25% Y — Deposit USDC on Ginkou to release 25% Z — Deposit USDC in the Liquidation Queue on Ginkou for the final 25%

Now for some of the less exciting, but still exciting stuff that will bring value to 'XYZ'

Staking of 'XYZ' will enable you to get a share of the fees generated by the protocol In the future where the protocol has excess yield, this can be used to buy back 'XYZ' to create an additional positive feedback loop. Stakers of 'XYZ' will decide what happens with the 'XYZ' Stakers of 'XYZ' will get a portion of liquidation premiums that are acquired by the protocol funded liquidation bots (addresses will be made public prior to launch) We will be working closely with the White Whale team (as we have done so far) to see where we can capture yield to distribute to stakers. As our ecosystem evolves, so should we be adopting future opportunities to bring extra value to our protocol(s) Some additional features to bring value to 'XYZ' are discussed in the beginning of this article and ofcourse we will listen to community suggestions that we can incorporate whilst we build this out.Now for some numbers:

Max. Supply (fixed): 66.777.888

Token distribution:

Team: 10% — vested/cliffed for 12 months then linearly unlocked over 2 years Treasury (staking incentives): 20% — Linearly decreasing over a period of 10 years Liquidity Incentives: 20% — 10% initial provision on 'XYZ'<>WHALE — 10% reserved for future incentives where they make economic sense. Airdrop: 40% Public sale (streamswap or alternative Migaloo Launchpad): 10% — for price discovery What are we asking for? Well, the number is 7.5m WHALE

We think this number is fair given we have already committed a large portion of WHALE into the ERIS Validator wars program and locked for the maximum period. Why we think it is even more fair is because we will keep the whale in the ecosystem to bootstrap various parts of our protocol. As we have done so far, we commit to what we believe in, in other words we are positioning ourselves with full belief in our own product and strategy. We have already deposited 10k USDC in Ginkou on the deposit side because, again, we believe in our product and strategy.

Through this funding we will be able to commit a long term future to some of our current "part-time" members and have a budget to increase our infrastructure as and when required as the product grows. As we are opening up various communication channels we will listen to the community for any features or enhancements to the product. If they make sense, we will build them!

One final note — the smart contracts are owned by a multisig which has team members of the White Whale team on it — we cannot deploy anything without their say so.

We have agreed the following terms with the WW team for the release of funds:

1: 20% upfront, which we will liquid stake with the ERIS and Backbone Ecosystem partners 2: 80% amount will be vested over 18 months, with releases scheduled at every block.
Ginkou<>Migaloo = The Future