Planet Loan Agreement Proposal with Jump Crypto

Background

This proposal aims to further help grow our ecosystem to stabilize the $AQUA & $GAMMA token markets with liquidity on centralized exchanges.

Proposal Description

We propose to onboard Jump Crypto as one of our liquidity providers and to lend them 1.5% of $AQUA (current supply) & 3% of GAMMA (total supply) from our community treasury.

If this proposal were to pass, fees flowing to the treasury would be used to buy $AQUA & $GAMMA on the market until we’ve reached the loan amounts specified above.

The initial loan agreement is for 24 months.

The primary goal of this is to make sure there are no disruptions in liquidity of $AQUA & $GAMMA across all exchanges which is very important to grow the Planet community. A highly volatile and illiquid token could drive away potential users.

About Jump Crypto

Jump Crypto is the crypto arm within Jump Trading Group. Jump Crypto is one of the largest trading firms in the world.

The crypto arm has been operating for the past six years and has become core builders, partners, and traders working towards the next frontier in crypto infrastructure. Jump has supported nascent and mature crypto projects alike, growing their networks and communities through liquidity provision. Recently, Jump was behind the $320M USD ‘patch’ of the Wormhole exploit.

More on Jump Crypto here:

https://jumpcrypto.com/introducing-jump-crypto/

Benefits of onboarding JumpCrypto

• contribute to token liquidity on exchanges
• support listing on additional exchange venues
• support Wormhole’s onboarding of new assets to the protocol

Post onboarding, the performance of the liquidity provider would be reviewed as per the agreement conditions that would be accepted by both parties internally.

Conclusion

If this proposal passes, a legal agreement would be signed by the two parties.