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0xAcid0xAcidby0x340eA49C1ff394CDDb99E684518542e67745ce3D0x340e…ce3D

Proposal to Enable Trading of vesting esACID in the Market

Voting ended over 2 years agoSucceeded

Introduction: Some users in our community have reported that they have reached the predicted milestone for vesting their esACID, resulting in a depletion of available esACID for distribution. In order to allow more locked ACID holders to accelerate their vesting and increase their share, we propose enabling the trading of vesting esACID in the market. This measure will not include the trading of esACID outside of the vesting period, ensuring that the overall share of locked ACID remains undiluted.

Proposal Details: We will fork Uniswap V2 and deploy an independent Automated Market Maker (AMM) for ACID. Add the esACID/ACID trading pair in the new AMM, with a 1% trading fee allocated to the team. Users will only be able to buy and sell the esACID/ACID pair and will not be able to add independent liquidity. Initially, the multi-signature mechanism will mint 100 esACID and 20 ACID to provide liquidity for the pair.

Objectives and Benefits: The ultimate goal of this proposal is to expedite the achievement of the current phase's objectives, halt the infinite issuance process, and move on to the next phase of the LST narrative. By enabling the trading of vesting esACID in the market, we can achieve the following benefits:

Accelerate vesting: Locked ACID holders can expedite their vesting process by trading in the market, allowing them to acquire esACID more quickly. Increase share: Through market trading of esACID, enhancing their governance rights and participation. Support liquidity: The new AMM provides a liquidity pool where users can trade the esACID/ACID pair, increasing market liquidity and trade activity.

Off-Chain Vote

YES
22.37K ACID83.6%
NO
4.38K ACID16.4%
Quorum:268%
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Timeline

Jul 16, 2023Proposal created
Jul 16, 2023Proposal vote started
Jul 17, 2023Proposal vote ended
Oct 26, 2023Proposal updated