Lend to the Green Knight

The Green Knight (GK) has sent an emissary to The Church of Her to request a flexible loan of 10 ETH from the Conclave.

Loan Terms:

  • Amount: The Conclave will send 10 ETH to The Green Knight.
  • Repayment: The Green Knight will return any amount at any time to the conclave address upon any request from credible representatives (e.g. if asked to do so by any renowned artist, magician, king, or thief in the public-square).

Use of the loan:
GK plans to use the loan to generate returns from low risk strategies. The specific use is wholly at GK’s discretion, but some examples include:


  • GK may use the loan in rewards programs. There are currently many rewards being offered for low risk activities, such as holding ETH on a specific blockchain or protocol. A good summary can be found here.


  • GK may also use hedged basis trades like those used by Ethena for USDe yield, but structured for yield in relative to ETH instead of Ethena’s goal of yield with a USD peg.

GK will personally cover any losses. GK will honor any request from the conclave to return any amount at any time regardless of GK’s personal PnL or losses. This proposal is clear in requesting a loan with the expectation that the 10 ETH amount will be repaid to the conclave address. It is not proposing any kind of joint venture that exposes the Conclave to GK’s PnL or to risks from GK’s use of the loan.

GK plans to minimize personal risks of loss by sticking to low risk strategies like the examples above. However, nothing is completely safe in these lands (e.g. ETH in a protocol can be lost due to a smart contract exploit). But again, any losses will be covered by GK.

Benefits to the community:
No reward, no gain. This proposal prioritizes full repayment flexibly upon any request from the conclave. The tradeoff for full and flexible repayment is that there is no binding comment for payments in excess of the original 10 ETH lent. At GK’s discretion, profits from the use of the loan may be used to grow the farm. GK has a history of taking floor wagdies to the farm. If GK uses profits to grow the farm, the use of the derivate WAGDIE ERC-20 tokens is also at GK’s discretion. GK has a history of hoarding these WAGDIE ERC-20 tokens to prevent wagdies from leaving the farm, but has occasionally gifted a them to exceptional community members.

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A bold request and meaningful dialogue to follow I hope. Some points worth clarifying:

  1. Is the amount ask of 10eth fixed? Are you open to lower amounts? A reduction in risk may work in your favor.

  2. How can you guarantee the ability to return the borrowed amount in whole at any point? I’d like to trust in long standing community members’ ethics and accountability to follow through on opportunities/proposals like these but it is web3 and everyone here is anonymous at the end of the day such that safety measures are paramount to bar against any lapses that may jeopardize the funds, intentional or accidental. Is there any collateral to put up?

  3. If no prompting to return the borrowed amount is initiated outside your individual discretion, at what point will the amount be returned? I think highlighting a definite date of return would provide necessary timeline clarity to an ask of this magnitude.

As a last point, probably important to define a clearer process by which the community can trigger a return of the borrowed funds.

Due to the myriad of challenges, I think an ask of this realistically going through is very low. Nothing is impossible so let’s see what others have to say. Always appreicate your involvement in the community Isk.


Haha, I realize this is a bold ask. But hard to see so much ETH just sitting there collecting dust. I had proposed a few safe ways to get returns in discord, like converting to Lido ETH, but there didn’t seem to be an appetite for the conclave to expend effort on that. So figure I might as well ask if I could use it for small returns while it’s not needed for anything else haha.

Amount is flexible. I’m open to lower amounts, but I’m expecting returns <30% APR so it would need to be somewhat high to justify gas fees and effort.

How can you guarantee ability to return the borrowed amount in whole at any point?

Solvency & Transparency
I’ll keep a lot more than 10E on chain, so meeting an immediate ask for 10E should be fine. People can check/follow by address on DeBank. It shows $1.7M but much of that is $ONE which shouldn’t count. Taking out $ONE, I have around $200k-250k on chain. Planning to keep this the same or bring more $ on chain, so I expect to keep more than 5x the loan amount readily available on chain.

Also happy to go over my off-chain assets in a less public forum if that would be helpful.

I think the community would have to trust me, so I am banking a bit on my reputation here. I am doxed to some wagdies. Happy to dox to you, too :slight_smile:

Happy to add other information that might help here as well…


I’ve thought about this a bit, but there’s two reasons it doesn’t really make sense;
(1) I could just use the collateral assets themselves to generate returns, instead of as collateral here.
(2) This doesn’t actually guarantee a return of the ETH – if the value of the collateral falls below 10E then the incentive is to keep the ETH so it reduces back to trust anyway.

However, I’m open to discussing collateral more if the proposal hinges on this. One way to implement this could be the conclave offering a 10E loan collateralized by some asset we agree upon via Teller: DeFi lending on ENS, NFTs, Tokens.

Process for returning the funds?

I’m totally open to any ideas here.

At first I thought of proposing to return them if a conclave proposal asking me to do so passes. But that seemed way too laborious. My intention is to be fast and frictionless with returning it when it’s needed/desired back.

Maybe the process could be “when asked to do so by anyone with a token of concord discord role (e.g. field notes, her ember, …)”?

Return date?

I don’t think this is necessary since I’m so flexible with returning upon request.

However, an alternative way to structure the proposal could be to have a fixed duration (e.g. 6 months), and require a conclave vote to extend it or update the terms every 6 months. And require it to be retuned if/when an extension doesn’t pass.

If the amount is a bit smaller than I’d probably prefer some minimum duration so I at least have time to make back gas fees with a low APR lol.

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This doesn’t make any sense. A proposal should offer some service/product/idea, a commitment to some output. Otherwise it’s some sort of a friendly borrow with unacceptable risk-reward ratio for the community funds and zero accountability for the borrower.

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Hm I could make regular payments to the conclave for the duration of the loan as a service…

Is there anything else that would make the risk-reward more acceptable?

Offer a profit or a product in return? You’re trying to get a zero-interest loan, while everyone knows there’s reason this type of thing doesn’t exist in nature (unless there’s a way to take the shit back with force or liquidation).

Offer a profit

I’m happy to match the borrow rates on AAVE: 2.5% APR for ETH or around 8% if you’d rather denominate the loan in a stablecoin.

And yeah, we could implement collateral through Teller. One option I’d be open to is:
10 ETH at 2.5% APR collateralized by $45k of Ethena’s sUSDe for 90 days (with option for the Conclave to renew every 90d).

Feel free to propose terms that sound reasonable to you

doesn’t exist in nature

It definitely does ~ my friends and I lend things to each other with no expectation of overpayment