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Bag.winBag.winby0xe9c1A97eFAFcB763000959067fF96bfcD72C9045bronzedlion.eth

ICE-USDC Stabilization Support

Voting ended over 3 years agoFailed

Introduction The DG ecosystem is set to resume its growth with the introduction of new all access wearables and flex wearables collections. The anticipated growth in the ecosystem arrives at a time where ICE, and the aggregate crypto market in general, is experiencing marked volatility. To combat this volatility measures have been introduced to pair protocol revenues with USDC and add to the ICE-USDC LP as per the governance proposal: https://snapshot.org/#/decentralgames.eth/proposal/0x1c92beee7f7ff5e62d15b5034d3ea537da8a5db11976a3738bf9284fb80e3458. At present these protocol revenues include Polygon validator node rewards, secondary sales royalties and metaverse advertising revenue.

Proposal I. Allocate the ICE revenues from wearable activations and upgrades to be paired with USDC and added to the ICE-USDC LP for the remainder of 2022 Q4. This will support the ICE stabilization efforts of the governance proposal linked in the introduction.

Motivation I. Further contributes to the ongoing ICE stabilization efforts by strengthening the ICE-USDC LP. II. Limits the discretionary incremental liquidity needed to strengthen ICE-USDC LP and safeguards the DG DAO's fiscal space regarding its USDC/DAI reserves. III. Strengthens ICE-USDC LP as the protocol approaches > 1:1 ICE burn to mint ratio.

Off-Chain Vote

Yes, support it
523.45K xDG100%
No, leave as is
0 xDG0%
Quorum:5%
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Timeline

Oct 05, 2022Proposal created
Oct 05, 2022Proposal vote started
Oct 08, 2022Proposal vote ended
Feb 15, 2024Proposal updated