#3

tl;dr

Potentially raise liquidity of WECH-USDC pair on Echelon Chain from $13,500 to $50,000.

Quick Outline

• Use $5000 worth USDC from treasury (Via this proposal)
• Seek $5000 worth ECH from Echelon.Network (Via Community Funding)
• Add liquidity to USDC+WECH, on Echelon Chain (Via eliteness.eth)
• Add LP tokens to Kompound Protocol (Into Treasury)
• Repeat with $500-1000 more, each subsequent week.

Why?

Raise liquidity depth ($13.5K right now) of DEXCH (https://ech.guru/dexch) to $50,000. This will make trading more attractive on DEXCH, our very own DEX Aggregator. More volume = more daily revenue for our treasury.

Official Proposal

(As submitted to Echelon's Decentralized Governance Portal) "We, Guru Network, ECH.Guru are looking to apply for community funding for using the leftover funds from Governance Proposal number 7 and the liquidity returned by RadioShack, intending to create a new proposal as detailed below: We have been budgeting and looking to seed our Treasury funds into the Echelon ecosystem in the form of adding $10k-$25k of WECH-bUSDC liquidity, on-chain on Echelon. Currently we've accumulated $5,000 Currently at our treasury, eliteness.eth in USDC on Fantom for this purpose, raised from our operations on other chains. We are keen on deploying this USDC as liquidity on Echelon to improve on-chain activities. Furthermore, we will be adding nearly $500-1000 more each week stemming from our protocol revenue gradually. For this, we seek a community funding denominated in ECH to match the other side for our USDC liquidity. At all points of time, the ECH will be maintained in liquidity on the USDC-WECH pair of leading DEXes. Currently, there is just $13,500 of combined liquidity on both the USDC-ECH pools from the 2 prominent DEXes we have on Echelon. Out of this, nearly $7,000 comes from users of ECH.Guru's DeFi platforms alone. As we also run the Dexchelon DEX Aggregator, which we want to be the go-to place for trading ECH/USDC, this proposal would effectively increase the depth of our aggregated liquidity by atleast 2x initially & greatly benefit all Echelon users who want to trade between USDC/ECH seamlessly on Echelon Chain with lower slippage. For the growth aspect of this valuable asset, we would immerse the ECH+USDC LP tokens into Kompound Protocol our Yield Optimization Protocol on Echelon and grow it over the course of time, as the risk involved for us is mainly impermanent loss. At $1.5M mkt cap, we strongly believe hodling ECH is definitely going to outweigh LP'ing since this has also been the primary concern of people unwilling to chip in liquidity at Pancake. At the end of the day, this proposal aims to increase the overall liquidity on ECH-USDC by a good factor and definitely prove helpful in onboarding users and developers and organically grow the ecosystem that builds atop Echelon. We request a sum of 2,000,000 ECH to be matched to our liquidity, over the time period of several months, providing it is paid weekly from the Echelon Team."

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Voting

Carrying out this endeavor involves a Two-Sided Vote, one here at Guru Network (https://dao.ftm.guru) and the other at Echelon DApp's Governance module (https://app.ech.network/vote/8).

Vote at Guru Network DAO

https://dao.ftm.guru

Vote at Echelon DApp Governance

https://app.ech.network/vote/8

Voting Parameters

Deadline

8AM, 4th of July, UTC.

Quorum

Minimum 9000 ELITENESS turnout

Acceptance

50% + 1 in favor