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Bag.winBag.winby0xb3Ab3a2f58a7d91Fe3Dcf9ABAd53C0dD1603B847ryandg.eth

Make DG-xDG on QuickSwap Uni-v3

Voting ended about 4 years agoSucceeded

Background

We moved to an auto-compounding (xDG) governance rewards model and are now able to support holders swapping into governance positions on Matic on QuickSwap. The DG-xDG Pool has ~$1.2M in Liquidity (link below).

UniSwap v3 is launching on Polygon per a recently passed DAO proposal (link below). Details and a comparison of v3 and v2 can be found here: https://uniswap.org/blog/uniswap-v3/.

Proposal

Once live, make the DAO's DG-xDG pool on QuickSwap v3 rather than v2. The liquidity will be provided over a tight range (always <1% slippage) and the range will be manually adjusted periodically to reflect the DG <-> xDG exchange rate (i.e. "the peg") one can get on ETH Mainnet by staking there.

Rationale

It's summed up well by the blog post above: On v3, “LPs can provide the same liquidity depth as v2 within specified price ranges while putting far less capital at risk.” Right now, using v2, the peg can be off significantly on QuickSwap vs. the peg from staking on ETH mainnet and we require people to bridge and arb to bring the pools back into balance. v3 will be much more efficient.

Links

DG-xDG Pool on QuickSwap: https://info.quickswap.exchange/#/pair/0x9a0d115a4b9a2ba3c8f84516823f49a3fd59a180

UniSwap Governance Proposal: https://app.uniswap.org/#/vote/2/10

Off-Chain Vote

YES
42.04M 100%
NO
1.02K 0%
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Timeline

Dec 19, 2021Proposal created
Dec 19, 2021Proposal vote started
Dec 24, 2021Proposal vote ended
Mar 03, 2025Proposal updated