Incentivization of stkATOM liquidity on Dexter

The pSTAKE team proposes to allocate 500K PSTAKE tokens from the Incentivization and Community Development Fund to incentivize liquidity bootstrapping of stkATOM on Dexter for 3-5 months.

Dexter is an AMM for yield-generating assets like Liquid Staked Tokens (LSTs) built on the Persistence Core-1 chain. Dexter v1 is bringing Metastable Pools, one of the most efficient pool types for LSTs, to Cosmos.

The Dexter team has received a 450,000 XPRT grant from the Persistence community pool, a portion of which will be used for LP incentives to bootstrap liquidity on the initial pools, including the stkATOM/ATOM Metastable pool.

The Persistence chain aims to be the liquid staking hub in the Cosmos Ecosystem. It will host a suite of DeFi dApps (like Dexter) across various verticals such as Borrowing/Lending, Yield Optimizers, and more, catering to LSTs. Hence, the deep liquidity of stkATOM on Dexter is non-trivial.

If this proposal passes, 500K PSTAKE tokens will be transferred from the Incentivisation and Community Development Fund wallet on Ethereum to the following 2/3 Persistence multi-sig address via the Celer bridge: persistence1jvl06jjwc62454hznp2andmxdkm0a49eafqq2c

The multi-sig holders of the wallet are: Aditya Vandkar (pSTAKE Marketing Lead) Maajid Nazrulla (pSTAKE for Cosmos Product Lead) Puneet Mahajan (pSTAKE for Cosmos Engineering Lead)

The pSTAKE team will ensure that the use of allocated funds is public & kept transparent at all times through the pSTAKE Forum & other channels.

Vote 'FOR' to agree with incentivizing the bootstrapping of stkATOM liquidity on Dexter with 500K PSTAKE tokens.

Vote 'AGAINST' to disagree with incentivizing the bootstrapping of stkATOM liquidity on Dexter with 500K PSTAKE tokens.

Vote 'ABSTAIN' if you do not want to participate in this proposal.