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THE HUBTHE HUBby0x382511Ab458A8e55be45F81BDb78c0b25E2148F20x3825…48F2

Migrating Funds to Polygon

Voting ended about 4 years agoSucceeded

Hello everyone, I want to propose migrating some of the treasury funds to Polygon for the follwing reasons:

  1. Set up a LP on Polygon
  2. Buy some $Blok
  3. Pay contributor rewards
  4. Fund the Polygon staking contract (this gets decided in a separate Vote)

Reasoning:

  1. Cheap trading for everyone. People who just want to invest small amounts to be part of the community can now do so. Get exposure from Polygon Ecosystem

  2. Bloktopia is a promosing project that is already established, but still has a lot of potential for growth, so the allocation in $BLOK could pay. We would be positioned well to buy Bloktopia lands as soon as the opportunity arises.

  3. Contributor rewards can be small and having them Ethereum would make it useless for contributors because moving the funds anywhere might be prohibitly expensive.

Specifications:

  1. We set up a Pool with 300k liquidity on 1.12. and migrate USDC and MGH accordingly.

  2. We migrate 50k USDC and buy $BLOK for 1k USD everyday for 50 days to mitigate the influence of market fluctuations.

  3. We migrate a small amount of MGH that is reserved for contributors.

About the Vote:

Since we are voting on 3 distinct points here I made a yes and a no option for each point. This is an experiment to see if this style of voting might be good for more fine-grained Voting choices, when multiple related points are voted on. Please only select either "Yes for 1." or "No for 1."

Off-Chain Vote

Yes for 1.
9.61M 33.2%
Yes for 2.
9.75M 33.7%
Yes for 3.
9.61M 33.2%
No for 1.
0 0%
No for 2.
0 0%
No for 3.
0 0%
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Timeline

Nov 22, 2021Proposal created
Nov 22, 2021Proposal vote started
Nov 24, 2021Proposal vote ended
Oct 26, 2023Proposal updated