Long Covid Labs Development Proposal - 002 (LCL DP-2)

Long Covid Labs Development Proposal - 002 (LCL DP-2)

Title: Long COVID Labs Token Transferability and Liquidity Proposal

Summary: Long Covid Labs Development Proposal - 002 (LCL DP-2) outlines the process of making COVID token transferable and tradable. Specifically, upon passing this proposal will:

Lift the transfer restriction on the COVID token contract and make it transferable. Allocate 3% of the COVID token supply and the corresponding amount of ETH from the Treasury for providing liquidity to markets. Grant the Long Covid Labs Association the authority to actively manage liquidity based on market needs. Provide initial liquidity on Ethereum Mainnet with an ETH/COVID liquidity pool

Description

1. Lift COVID Transfer Restriction The current transfer restriction on COVID tokens shall be removed following the passing of this proposal. This will allow COVID holders to freely transfer COVID, unlocking broader utility and allowing new users to enter the ecosystem.

2. COVID Allocation for Liquidity Management Needs 3% of the COVID token supply will be allocated for liquidity provisioning across markets. The COVID token supply can be used on market conditions and developments, which can involve the provision of liquidity on different blockchains.

3. Deployment of ETH/COVID Liquidity Pool The proposal grants the Long Covid Labs Association the right to manage liquidity positions with aforementioned COVID token and ETH supply. This proposal further grants the Long Covid Labs Association the right to establish liquidity pools on decentralized exchanges, such as, but not limited to, Uniswap. The first liquidity pool will be created for the ETH/COVID pair following the removal of the transfer restriction. The liquidity positions are aimed to cover a wide range of possible market movements while allowing the establishment of concentrated liquidity once the market volatility settles.

The Long Covid Labs Association will actively manage the liquidity position among all pools. The optimal liquidity usage depends on market movements. By agreeing to the governance proposal, the community agrees to the Long Covid Labs Association managing the liquidity actively, and repositioning liquidity based on market needs.

Conclusion By adopting this proposal, the COVID token will become transferable and tradable. Secondly, the deployment of liquidity across Ethereum will promote accessibility and long-term growth of COVID while also enabling a later expansion of the token to other chains.