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Bag.winBag.winby0x60206B4b0eeefed1C5fb8f755527f72fa872B143pdubverse.eth

Creation of $ice Liquidity Pool on Ethereum Blockchain

Voting ended over 2 years agoSucceeded

Background

The only way to purchase $ice token is currently on Polygon Blockchain which is a layer 2 protocol on top of Ethereum. We have taken steps in recent DAO proposals to make $ice token more attractive for the Ice Poker Ecosystem. While brighter days are around the corner for more positive price action, I feel as though we are hindering the number of holders of $ice token on just Polygon when there is much more liquidity and volume on Ethereum Blockchain.

According to Dexscreener.com on 5/4/2023 at 10:23 UTC there is $1.13 billion in 24 hour volume on the Ethereum Blockchain. On Polygon Blockchain in the same period there was only $63.7 million. With this data Ethereum is a better blockchain for token discovery as compared to Polygon.

Proposal

The DAO Treasury currently holds 116,169,273 in $ice and $3,831,140 in stable coins (USDT/DAI) as of today. Have the team take $ice from the DAO treasury and create a pool on Layer 1 Blockchain with the option of DAI or USDT. Give the team the ability to determine which stable coin to use. Also giving the team the ability to determine the size of the liquidity pool as long as enough is provided to create a reasonable slippage for potential large trades. Uniswap would be the preferred DEX to create the pool due to high volume.

Rationale

You might ask "How does this benefit Ice Poker?". I will give some of my insights:

  1. A potential player can discover $ice token either through a DEX or word of mouth and do more research into Ice Poker. Now with Free Play Mode players can immediately jump in a table and discover that $ice can provide additional perks in our ecosystem. Player can next trade for $ice on Layer 1 and then bridge $ice to Polygon to purchase shine or upgrade wearables.

  2. More eyes are on Ethereum as compared to Polygon. The data speaks for itself. Not only are we creating an $ice pool on Ethereum that can potentially create a more attractive price, we are also passively marketing our token to a new set of eyes.

  3. There won't be a need to spend the time and gas to bridge assets to Polygon in order to immediately trade for $ice.

Off-Chain Vote

Create layer 1 $ice pool
800.14K xDG6.6%
Do not create layer 1 $ice pool
11.27M xDG93.4%
Quorum:121%
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Timeline

May 05, 2023Proposal created
May 05, 2023Proposal vote started
May 12, 2023Proposal vote ended
Oct 26, 2023Proposal updated