Exit LBP and Add Liquidity to Uniswap/Sushiswap

Now that the liquidity bootstrapping event has been completed, this proposal seeks to add liquidity to Uniswap and Sushiswap on Ethereum Mainnet and Polygon respectively. The combined liquidity will be approximately 1.48M USDC and 400k POP.

Ethereum Mainnet

If approved, this proposal executes the following on Ethereum Mainnet:

1. Withdraw liquidity from the LBP by swapping the LBP LP tokens with the underlying assets. All assets will be transferred to the PopcornDAO Aragon smart contract.
2. Return 562,500 USDC loan to the Popcorn Foundation.
3. Approve Uniswap router proxy for 1M USDC.
4. Approve Uniswap router proxy for 500k POP.
5. Add liquidity to a G-UNI managed POP/USDC Uniswap V3 pool via the Uniswap router proxy.

The approval amounts above are slightly more than the targeted spend to account for fluctuations in market price when liquidity is added.

After execution, the PopcornDAO Aragon smart contract will hold all of the G-UNI LP tokens for the POP/USDC pair and additionally it will hold the remaining balance of the proceeds from the Ethereum liquidity bootstrapping pool.

To prevent front-running, the POP/USDC balances are set through the Uniswap router proxy contract, deployed at 0xD78EdFEA5Aa9fDf6Ff4859E55082cBe9aEEA8b27. Only the Popcorn Foundation can set these balances, via the setLiquidity function. This contract function must be called as close as possible to the execution of this proposal, to provide liquidity at the correct market price.

Polygon

If approved, this proposal executes the following with the Polygon Gnosis Safe DAO Agent:

1. Withdraw liquidity from the LBP by swapping the LBP LP tokens with the underlying assets. All assets will be transferred to the Polygon Gnosis Safe DAO Agent.
2. Return 562,500 USDC loan to the Popcorn Foundation.
3. Approve Sushiswap router proxy to spend 1M USDC.
4. Approve Sushiswap router proxy to spend 500k POP.
5. Add liquidity to a POP/USDC Sushiswap pool via the Sushiswap router proxy.

The approval amounts above are slightly more than the targeted spend to account for fluctuations in market price when liquidity is added.

After execution, the Polygon Gnosis Safe DAO holds all of the Sushiswap LP tokens for the POP/USDC pair and additionally it will hold the remaining balance of the proceeds from the Polygon liquidity bootstrapping pool.

To prevent front-running, the POP/USDC balances are set through the Sushiswap router proxy contract, deployed at 0x9Bd9E7F30FbF3609F2397F52a3eB3aAfFEEaA133. Only the Popcorn Foundation can set these balances, via the setLiquidity function. This contract function must be called as close as possible to the execution of this proposal, to provide liquidity at the correct market price.

Executable Code on Ethereum

The following will be executed on Ethereum Mainnet by the Aragon DAO agent:

Function 1:

Signature: withdrawFromPool()
Calldata: undefined
Target: 0xe7F0E61a07D540F6Ab3C3e81D87c6ed0F2C0244d
Value: 0

Function 2:

Signature: approve(address,uint256)
Calldatas:
address: 0xD78EdFEA5Aa9fDf6Ff4859E55082cBe9aEEA8b27
uint256: 1000000000000
Target: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48
Value: 0

Function 3:

Signature: approve(address,uint256)
Calldatas:
address: 0xD78EdFEA5Aa9fDf6Ff4859E55082cBe9aEEA8b27
uint256: 500000000000000000000000
Target: 0xd0cd466b34a24fcb2f87676278af2005ca8a78c4
Value: 0

Function 4:

Signature: transfer(address,uint256)
Calldatas:
address: 0x084e8A8cF1C38dEF1D6dB8542a73aa0d54284F8D
uint256: 562500000000
Target: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48
Value: 0

Function 5:

Signature: addLiquidity()
Calldatas: undefined
Target: 0xD78EdFEA5Aa9fDf6Ff4859E55082cBe9aEEA8b27
Value: 0

Executable Code on Polygon

The following will be executed on Polygon by the Gnosis Safe DAO agent:

Function 1:

Signature: withdrawFromPool()
Calldata: undefined
Target: 0x9F3EcFDCE702514Bf3dF6f2Dc3Aa8A6937F5dd91
Value: 0

Function 2:

Signature: approve(address,uint256)
Calldatas:
address: 0x9Bd9E7F30FbF3609F2397F52a3eB3aAfFEEaA133
uint256: 1000000000000
Target: 0x2791bca1f2de4661ed88a30c99a7a9449aa84174
Value: 0

Function 3:

Signature: approve(address,uint256)
Calldatas:
address: 0x9Bd9E7F30FbF3609F2397F52a3eB3aAfFEEaA133
uint256: 500000000000000000000000
Target: 0xc5b57e9a1e7914fda753a88f24e5703e617ee50c
Value: 0

Function 4:

Signature: transfer(address,uint256)
Calldatas:
address: 0x084e8A8cF1C38dEF1D6dB8542a73aa0d54284F8D
uint256: 562500000000
Target: 0x2791bca1f2de4661ed88a30c99a7a9449aa84174
Value: 0

Function 5:

Signature: addLiquidity()
Calldatas: undefined
Target: 0x9Bd9E7F30FbF3609F2397F52a3eB3aAfFEEaA133
Value: 0