Context

In the NIP V2.0, the community agreed on the need to favor a liquid secondary market for $NIL.

The Liquidity mining program which was initially proposed found support even though some participants demonstrated that the current low circulating supply was a major break to any liquid secondary market.

Based on this previous iteration, we propose in NIP 02 to use the $NIL held by the DAO to inject circulating tokens, making more efficient a potential liquidity mining program.

Sentence Summary

• Put 100,000 $NIL from the DAO treasury in a Uniswap single side NIL/ETH position with a range between $20 and $500.

Motivation

• To expand its activities, the Nil DAO needs to have a fairly liquid secondary market for contributors to join and leave the ecosystem.
• With approximately 17,000 $NIL in circulation, it is fairly unimaginable to expect a liquid secondary market (>1m).
• On the other side, there are 300,000 $NIL in the DAO treasury in addition to 18,2m $vNIL.
• Those 300,000 $NIL had been initially minted to provide liquidity in a Uniswap single side position. This proposal looks to make this happen.

Execution

• Discuss proposition on Nil Forum
• Vote on Snapshot
• Technical execution by initial contributors