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MetaverseProMetaverseProby0x6E24F6E66A6c9c86cF4c5C60B7bcE7c73BfA6666congruentdao.eth

TAP-1: Adding META-BNB LP

Voting ended about 4 years agoSucceeded

Summary: Meta-BNB LP MetaversePRO has now been live for 5 days, and the platform has been running extremely smoothly. There is currently roughly USD600,000 worth of BNB in the Treasury. We propose that BNB (roughly USD200,000) be used to create a META-BNB LP.

Background: At the time that the platform launched, the team used the IDO funds to create the META-BUSD LP and purchased bonds with META deployed to the address. We propose to use roughly 1000 META (roughly USD200,000) and BNB from the treasury to create the META-BNB LP and send back to the Treasury address.

The platform already offers a solid choice of Bonds available, so we do not plan to offer META-BNB bonds. But, we require the BNB trading pair to cover more trading costs. We currently do not have any BNB income from swaps, and this results in losses for all overall.

Motivation: Advantage Treasury Assets will have more revenue (LP fees); Meta liquidity pool supply can be increased while not sacrificing the risk free asset balance in the Treasury.

Details: This will be the first time that we conduct DAO voting using snapshot. Voting rights will be linked to sMeta and voting will last for 24hours.

Off-Chain Vote

Yes
18.97K 98.9%
No
207.18 1.1%
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Timeline

Nov 22, 2021Proposal created
Nov 22, 2021Proposal vote started
Nov 23, 2021Proposal vote ended
Oct 26, 2023Proposal updated