DAO Proposal #32 Closing Core Dex Server for cost saving and migration to the Web Dex server

Title of proposal: Closing Core Dex Server for cost saving and migration to the Web Dex server Proposal ID: #32 Proposer(s): Hydranet Multi-Sig Submission Date: Thursday, July 11th at 0800 UTC

1. Abstract Summary: This proposal outlines the plan to close the Core Dex server to facilitate the upcoming launch of Web Dex. The aim is to optimize server management and reduce costs during this transitional phase. We request that all users with funded Core Dex accounts withdraw their funds to another wallet by the end of July 2024.

Motivation & Rationale: The transition to the Web Dex server is a significant development for the Hydranet community. Closing the Core Dex server will minimize server costs, saving approximately 1500 USDt per month, and streamline the migration process. This measure aligns with Hydranet’s mission to improve platform efficiency and user experience.

2. Proposal Details Key Terms: None

Proposed Updates & Objectives: Proposed Update: Close the Core Dex server in preparation for the Web Dex launch.

Objectives: -Minimize server costs during the transition period. -Ensure a smooth migration to the Web Dex server.

Implementation Overview: Action Steps: -Notify all Core Dex users to withdraw their funds to another wallet. -Monitor the withdrawal process to ensure the majority of users have moved their funds.

Timeline:

July 11th, 2024: Proposal submission and discussion begins. (complete) July 18th, 2024: Voting period begins July 23rd, 2024: The voting period ends. July 31st, 2024: Deadline for users to withdraw funds from Core Dex. Post-July 31st, 2024: Hydranet team will force close open channels so users can retrieve funds via seed phrase.

Overall Cost: Estimated savings: 1500 USDt per month until Web Dex server migration is completed.

Supporting Documentation: None

3. Impact Analysis Advantages: -Cost savings for the DAO -Streamlined transition to the new Web Dex server. -Improved server management and user experience. -Free up resources for developer needs (testing Titan and Guardians)

Disadvantages: -Temporary inconvenience for Core Dex users required to withdraw their funds. -Potential challenges for users unfamiliar with the withdrawal process.

4. Conclusion & Voting Final Thoughts: This proposal is a preparatory step for the upcoming Web Dex launch, offering cost savings and operational efficiencies. We appreciate the community’s cooperation and understanding during this transition period. We will ensure all channels are closed, and funds will be returned to L1 after July 31st. Users will get enough time to withdraw from their Core Dex wallets or save their seed phrase for importing funds into another wallet

Voting Options: -Approval -Rejection

Voting Period: Start: Thursday, July 18th at 0800 UTC End: Tuesday, July 23rd at 0800 UTC