PTIP 82 - A foundation for protocol owned liquidity

Voting ended over 3 years agoSucceeded

Simple Summary Open four protocol owned liquidity positions for WETH/POOL on Uniswap V3 mainnet

Motivation This initiative is the culmination of the Polygon Protocol Owned Liquidity and research from the Treasury Working Group. Recent discussions and links to older relevant materials can be found at https://gov.pooltogether.com/t/a-foundation-for-protocol-owned-liquidity/2534 Any questions can be presented on the forum or discord

Executive Team Mandate

Withdraw Olympus ETH/POOL V2 position Send position to TWG multi-sig 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1 Treasury Working Group Mandate

Withdraw 100,000 USDC from PrizePool, swap for ETH

Withdraw liquidity from Uniswap V2

Add liquidity in four ranges to Uniswap V3

Range #1 TWAP protection full range Price 0 to Infinity Amounts 1.5 WETH and applicable amount of POOL (aiming for $10k value)

Range #2 Current active trading range Price 0.0004 to 0.0012 WETH per POOL Amounts ~40 WETH (50,000 USDC swap + UNI V2 withdrawn) and applicable amount of POOL (currently estimated at 95k POOL)

Range #3 One-sided POOL range Price 0.001 to .01 WETH per POOL Amount 200k POOL minus POOL spent in Range #1 and #2. Estimated to be ~105k POOL

Range #4 One-sided WETH range Price 0.0002 to 0.00045 WETH per POOL Amount Proceeds of swapping 50k USDC to WETH and leftover after deploying other ranges (currently estimated to be ~40 WETH)

Send NFTs for liquidity positions to timelock

Proposal Technical Specification

Send POOL to TWG POOL token Destination 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1 Amount 183000000000000000000000

Send PTaUSDC to TWG Custom contract 0xdd4d117723C257CEe402285D3aCF218E9A8236E1 Transfer Recepient 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1 Amount 100000000000

Send DEMO NFT to TWG Custom contract 0xc36442b4a4522e871399cd717abdd847ab11fe88 transferFrom from 0x42cd8312D2BCe04277dD5161832460e95b24262E to 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1 tokenID 321228

Status LIVE OnChain https://vote.pooltogether.com/proposals/46

Off-Chain Vote

APPROVE

18.76K PPOOL100%

REJECT

0 PPOOL0%

ABSTAIN

0 PPOOL0%

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Timeline

Sep 22, 2022Proposal created

Sep 22, 2022Proposal vote started

Sep 25, 2022Proposal vote ended

Oct 16, 2024Proposal updated