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PlanetPlanetby0xFd525F21C17f2469B730a118E0568B4b459d61B90xFd52…61B9

Provide Liquidity for GAMMA Using Treasury Funds.

Voting ended almost 3 years agoSucceeded

As you are aware, liquidity has been a major topic of discussion within the Planet community, particularly in regards to GAMMA. We believe that the treasury can play a crucial role in providing liquidity for GAMMA by utilizing our stablecoin holdings.

At present, the treasury holds the following assets:

6000 FXS 34700 BUSD 327 USDC 199 USDT 0.02 BTCB

2,040,425 GAMMA held as iGAMMA 314 AQUA held as iAQUA

Plant Treasury: https://debank.com/profile/0xb1825a0BB4Bd2ac2C11846C3E8E0f80B90488F1C

This proposal proposes swapping approximately $35,000 worth of stablecoins into BNB, which would then be paired with GAMMA. To complete the pair we propose that an equivalent amount of GAMMA (+5%) be removed from the infinity vault and paired with BNB, which would then be supplied to the GAMMA/BNB pool on Planet.

Having a portion of the treasury be in a GAMMA/BNB position would not only provide liquidity for GAMMA, but also serve as a strategic move to align the treasury's interest with the success of Planet's ecosystem. This will help to foster a more robust and sustainable platform for all participants, while also increasing the overall value of the treasury's holdings.

Additionally, while this proposal involves pairing with GAMMA, the resulting large BNB position held by the treasury would also align us with the Binance Smart Chain ecosystem and better position Planet to participate in and benefit from the ongoing growth and development of the BNB ecosystem.

Off-Chain Vote

Yes, go for it!
113.86K AQUA100%
No, do not like this idea!
0 AQUA0%
Quorum:316%
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Timeline

Mar 05, 2023Proposal created
Mar 05, 2023Proposal vote started
Mar 12, 2023Proposal vote ended
Oct 26, 2023Proposal updated