PTIP-85 Strengthening Protocol Owned Liquidity

Simple Summary

Increasing our protocol owned liquidity (WETH/POOL) on Mainnet.

Abstract

100k USDC and 200k POOL will be sent to The Executive-Team. The USDC will be swapped for ETH and added with the POOL to Uniswap V3 in what we call the active trading range (.0004 WETH/POOL to .0012 WETH/POOL).

Motivation

Seeing an uptick in trading volumes and in anticipation for The Hyperstructure launch this proposal seeks to reinforce our protocol owned liquidity on Ethereum Mainnet.

Execution

The Executive-Team will add all ETH to the active trading range. Depending on the POOL price at the time of the execution, the amount of POOL paired with that ETH will vary. The remaining amount of POOL will be added from the price at the time of the execution to .0012 WETH/POOL.

In the unlikely case that POOL price falls below .0004 WETH/POOL, the USDC would be returned to the Treasury. POOL would be added to the active range from .0004 to .0012 WETH/POOL.

Technical Specification

Transfer 63567345210 USDC to 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693 Transfer 36432654790 PTaUSDC to 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693 Transfer 200000000000000000000000 POOL to 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693

Status

RFC: https://gov.pooltogether.com/t/rfc-strengthening-our-foundation-for-protocol-owned-liquidity/2763 Onchain: https://vote.pooltogether.com/proposals/62