Liquidity Aggregation Proposal

Abstract:

We propose a strategic aggregation of MODA liquidity pools from the Fantom, Polygon, and NEAR (Aurora) ecosystems. This decision is driven by the need to consolidate our liquidity and focus our resources on the primary exchanges most utilized by our community—Gate and Uniswap v3. This action also addresses the repercussions of the Anyswap bridge attack in July 2023, which compromised our Polygon and Fantom ecosystems, effectively isolating investors in these communities.

1. Introduction:

The recent challenges, including the inability of users to bridge between ecosystems, necessitate a decisive and beneficial course of action for the MODA community. By consolidating our liquidity, we aim to strengthen and stabilize our presence where it matters most.

2. Process Details:

Immediate Action: We propose the immediate removal of MODA liquidity from Polygon, Fantom, and NEAR. Methodology: The liquidity will be withdrawn in an orderly and secure manner to ensure market stability and protect holder interests. New liquidity will be added to Uniswap v3.

3. Expected Impact on the MODA Ecosystem:

Holder Compensation: Holders affected by the broken bridges on FTM and Polygon have been snapshotted and will receive tokens on Ethereum 1:1 for the tokens currently locked on the bridged chains. This will result in a MODA airdrop on Ethereum and enhanced rewards for future projects and products. Ecosystem Consolidation: By focusing our liquidity on Gate and Uniswap, we enhance our operational efficiency and market responsiveness. Uniswap v2 liquidity will also be removed on Uniswap v2, which is expected to cause some disruption to price stability Additional liquidity will be added to Uniswap v3 via both two-sided and single-sided positions

4. Future Vision for the Web3 Music Ecosystem:

Innovation and Expansion: MODA remains committed to evolving the web3 music ecosystem through innovative offerings and products that redefine interactions with music, with a major new product announcement due in the coming weeks. MODA will be announcing a new product in the coming days - an end-to-end Connected Music Protocol that has been tested by Drop.audio and Sokan Beat Battle. This new product will include incentives for MODA token holders. Community-Centric Growth: This proposal is a pivotal step toward a brighter, more robust future for MODA and our community, ensuring we move forward together with aligned interests and renewed focus.

5. Tangible Next Steps:

Post-Vote Execution: Upon approval, we will promptly proceed with the removal of liquidity from the specified ecosystems. Public Announcement: We will announce the approval of this proposal and provide detailed information about the liquidity adjustments and holder compensations. Reward Distribution: Airdrops will be executed for snapshotted MODA holders to compensate for the ecosystem changes. Future Developments: We will keep the community informed about upcoming products and the evolving landscape of the web3 music ecosystem.

Conclusion:

This proposal represents a strategic pivot essential for the long-term sustainability and growth of MODA. We encourage all stakeholders to participate in this decision by voting for a resilient, consolidated, and innovative future.