BIP-10: Starknet Mainnet Liquidity Provision

Overview:

Bibliothecadao is an integral DAO within the Starknet ecosystem. The more that both Starknet and Bibliothecadao develop, the more processes will intermingle between the two and therefore overtime, we will be moving more assets into the Starknet ecosystem. We are currently in the final stages of preparation to deploy a bridge of $Lords to Starknet mainnet. Once this is live we will be able to transfer without permission our Lords tokens to Starknet mainnet.

Once the Lords token is bridged to starknet we will want to allow new users to be able to access our ecosystem. This will require a liquidity provision to enable listing to exchanges and therefore access to the $Lords token.

The aim of this is to both attract new users, giving great exposure to the Bibliotheca ecosystem and will bolster volume on our token pairings.

Proposal:

We propose to provide Liquidity (LP) on two of the major decentralised exchanges (Dex’s) within Starknet mainnet, Jediswap & Sithswap. This will be a centrally controlled segment of LP due to multi-sig restrictions on Starknet, maintained by a trusted contributor within BibliothecaDAO.

These LP’s will require minimal maintanence due to these dex’s being based on the uniswap version 2 design not Uniswap version 3. Find more detail on uniswap v3 here

The LP amounts will be smaller due to Starknet mainnet being in alpha, utilising a centralised custodian and the current lack of Uniswap v3 based dex’s. We do anticipate using Starknet in these early stages will incentivise users to also LP on top if our own DAO owned liquidity.

The DAO will execute deploying the tokens across several stages. You can see here a draft overview of the current execution to maximise exposure to the Starknet ecosystem.

Implementation:

1. Allocate 10 ETH + Approximately 200k $Lords to trusted custodian. (This will be minted at the current market rate of 10 ETH to $Lords at the time of minting)
2. Funds will then be bridged to Starknet Mainnet.
3. Deployment of 50% of funds to dex 1 immediately.
4. Approximately 1 week after the initial LP deployment the further 50% of funds will be deployed to dex 2.

Cost:

10 ETH from our current Treasury ~200k $Lords from the LP fund

Renewal Structure:

Following with our Arrakis vaults this LP will be reviewed on a rolling 3 month contract to see if we should continue with this LP structure. Other options will be reviewed constantly and be brought to the DAO as they are developed.

Timeline:

• Depending on Starknet the bridge will be deployed immediately once the relevant updates are completed. We expect this within the coming weeks.
• Liquidity will be segmented into several dex's and deployed over multiple weeks from the date of bridge deployment.