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GivethGivethby0x839395e20bbB182fa440d08F850E6c7A8f6F0780griff.eth

GIV token swap for MATIC with q/acc subteam - $100K USD total; $50k First

Voting ended almost 2 years agoSucceeded

This proposal is to swap 100K USD worth of GIV tokens for 100K USD worth of MATIC.

The MATIC will be used to create GIV-MATIC LPs on Polygon zkEVM. Creating GIV liquidity is a critical prerequisite to migrating the GIVeconomy to Polygon zkEVM and generally positive for us overall.

While we wait for the GIV token to get migrated to zkEVM, we might use this matic for liquidity on mainnet.

For context, Polygon is sending $400k in MATIC to the q/acc subteam in 4 - $100k milestones and the q/acc subteam is basically Justice, Tam, Ivy and Griff. $100k of the $400k is earmarked for this token swap!

The best way to do this for q/acc is to do the swap in multiple batches, the first one will be 50K USD worth. Because of the time delay to get this token swap through our governance process, I think it is fair to lock in the exchange rate, as soon we hope to announce this partnership to the world and it might have an impact on the GIV token price.

This first swap would be: 4,195,686 GIV for 72,312 MATIC (From Coingecko on May 8th, 1:20PM NYC time, see screenshots in forum post) . The next batches will happen within the next few months at the market rate determined at the time of swap as we did for previous token swaps.

Off-Chain Vote

Yes - let's swap GIV for MATIC
9.58M GIV100%
No - let's hodl the GIV
0 GIV0%
Abstain
0 GIV0%
Quorum:958%
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Discussion

GivethGIV token swap for MATIC with q/acc subteam - $100K USD total; $50k First

Timeline

May 21, 2024Proposal created
May 21, 2024Proposal vote started
May 28, 2024Proposal vote ended
Mar 09, 2026Proposal updated