Renew Market Making Agreement with DaVinci Trading

Voting ended 8 months agoSucceeded

This proposal seeks DAO approval to renew our market making agreement with DaVinci Trading (formerly SkyNet Trading) for 2025-2026.

As with all Cryptex Finance market maker partnerships over the last four years, this arrangement is fully transparent and subject to community governance vote.

Key Context: • Current SkyNet 2024-2025 LP provisioning: 200,000 CTX • On or around June 17, 2025, this loan (or USDC equivalent) will be returned to the Cryptex DAO Treasury, alongside 200,000 CTX (or USDC equivalent) currently on loan to Wintermute Trading.

Proposal Terms: • Renew DaVinci Trading for an additional 12-month term (June 2025 – June 2026) • Authorize a 300,000 CTX loan from the DAO Treasury for 2025-2026.

Wintermute will continue as an official Cryptex market maker with 225,000 CTX through June 2026.

No vote is required for Wintermute’s continuation.

Renew Da Vinci (formally SkyNet Trading) to act as official CTX Market Maker

Da Vinci

Da Vinci acquired the Token Loan Desk of Skynet Trading.
Founded in 2015, Da Vinci is a proprietary trading house that actively provides liquidity in the digital asset markets and traditional financial instruments.
In the digital asset markets, Da Vinci is active on +30 exchange venues across spot and future markets
https://davincitrading.com/

CTX Loan

Authorize the transfer of a 300,000 CTX loan from the DAO Treasury to Da Vinci for market making purposes
Da Vinci will commit to providing liquidity under the terms of the loan agreement in the CTX markets on the following CTX venues: Coinbase, Bitstamp, Gemini, HTX
Da Vinci will commit to providing liquidity under the terms of the loan agreement if CTX would get listed on the following venues: Gate, MEXC, Bitfinex, Bitmart, Crypto.com, Bitvavo,
TWAP based option call
If a listing on Binance, OKX, Bybit, Kraken or Kucoin occurs, Da Vinci would receive 50k CTX per exchange to provide liquidity, with a maximum of 100k total expansion. Such expansion would have similar terms as the initial loan.
Should Da Vinci choose to (partially) exercise their CTX option, the loan balance will be returned to the DAO treasury in the form of USDC.

Vote Options:

FOR – Approves the 300,000 CTX loan to DaVinci Trading to continue as an official CTX market maker

AGAINST – Declines the loan, potentially reducing liquidity across global venues

Off-Chain Vote

For

932.21K CTX100%

Against

0 CTX0%

Abstain

0 CTX0%

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Discussion

Renew Market Making Agreement with DaVinci Trading

Timeline

Jun 06, 2025Proposal created

Jun 06, 2025Proposal vote started

Jun 09, 2025Proposal vote ended

Jun 09, 2025Proposal updated

Da Vinci acquired the Token Loan Desk of Skynet Trading. Founded in 2015, Da Vinci is a proprietary trading house that actively provides liquidity in the digital asset markets and traditional financial instruments. In the digital asset markets, Da Vinci is active on +30 exchange venues across spot and future markets https://davincitrading.com/

Authorize the transfer of a 300,000 CTX loan from the DAO Treasury to Da Vinci for market making purposes Da Vinci will commit to providing liquidity under the terms of the loan agreement in the CTX markets on the following CTX venues: Coinbase, Bitstamp, Gemini, HTX Da Vinci will commit to providing liquidity under the terms of the loan agreement if CTX would get listed on the following venues: Gate, MEXC, Bitfinex, Bitmart, Crypto.com, Bitvavo, TWAP based option call If a listing on Binance, OKX, Bybit, Kraken or Kucoin occurs, Da Vinci would receive 50k CTX per exchange to provide liquidity, with a maximum of 100k total expansion. Such expansion would have similar terms as the initial loan. Should Da Vinci choose to (partially) exercise their CTX option, the loan balance will be returned to the DAO treasury in the form of USDC.