Background MCB liquidity on Uniswap V3 was previously set by community holders, but lately it seems the liquidity has been removed.
Proposal To further stabilize the $MCB liquidity situation, MUX contributors propose to add 500K $ARB from the DAO airdrop to an Uniswap V3 $MCB / $ARB pair with the range of $0 - $10 to balance the inflow & outflow, as well as safeguarding holders’ interests.
Since the current MCB price is above $10, adding 500k $ARB to the UniSwap V3 $MCB / $ARB pair in the range of $0 - $10 will only increase Bids and not Asks, so there will be 0 $MCB selling pressure from this action. This set of liquidity will act more like a floor fund.