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Bag.winBag.winby0xb3Ab3a2f58a7d91Fe3Dcf9ABAd53C0dD1603B847ryandg.eth

Initializing ICE-USDC Pool on QuickSwap

Voting ended over 4 years agoSucceeded

Background

See ice.decentral.games for a background on the upcoming DG play-to-earn ecosystem and associated ICE token. At the time of writing, the DG DAO Treasury has ~$12M in assets and ~$1.9M in the "Gameplay Hot Wallet" including 225 ETH.

Proposal

Sell $250K worth of ETH from the Gameplay Hot Wallet (~65 ETH, at time of writing) into USDC, pair with $250K ICE (25M ICE), in order to instantiate the ICE-USDC pool on QuickSwap. This ~$500K in LP remains in the DAO Treasury.

Rationale

In order for the ICE Ecosystem to operate, there needs to be a liquidity pool (1) for new entrants to buy ICE to buy wearables and (2) for existing participants to cash out ICE earnings if they choose to do so. It makes more sense for the DG DAO to provide this liquidity rather than paying for it with new LP rewards, which would create another source of emission. We can revisit whether ~$500K in LP is sufficient at any time.

Off-Chain Vote

YES
39.99K 100%
NO
0 0%
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Timeline

Sep 03, 2021Proposal created
Sep 03, 2021Proposal vote started
Sep 10, 2021Proposal vote ended
Mar 03, 2025Proposal updated