PDP- 12: Expanding Liquidity to Base

Proposal Summary:

Following the successful addition of liquidity to Ethereum mainnet, PsyDAO intends to expand its reach by deploying liquidity on Base. This proposal aims to allocate 21 ETH for Base, paired with an equivalent value in PSY tokens at the deployment price, using additional funds raised from the public sale.

Background:

PsyDAO has already established a Uniswap v3 liquidity pool on Ethereum with 562,988.696107413190288376 PSY and 42 ETH. Now, we seek to diversify our liquidity strategy to include Base, enhancing our presence on a L2.

The community has chosen Uniswap via a Discord vote for this new LP pool.

Proposal Details:

• Liquidity Deployment on Base:
  • The DAO plans to allocate 21 ETH to be paired with PSY tokens at the time of deployment's market rate on Base.
• Funding Source:
  • The ETH for this new liquidity pool will come from the additional funds raised during the public sale, ensuring that there are still enough funds available to fund psychedelic research.

Goals:

• Increase the accessibility of PSY tokens to users on the Base L2.
• Enhance the liquidity and trading volume of PSY across multiple networks.
• Promote cross-chain interoperability and user experience.

Future Plans:

• Liquidity for Solana will be considered at a later stage once PSY has been added to portalbridge.com, allowing for a smoother integration.

Conclusion:

This proposal leverages the additional liquidity from the public sale to extend PsyDAO's presence to Base. By doing so, not only do we support the growth and accessibility of our ecosystem, but we also align with the multi-chain DeFi trend, potentially increasing community engagement and the overall availability of the PSY token.

Call to Vote:

We invite all members of PsyDAO to vote on this proposal to expand our liquidity to Base. Your affirmative vote will help us in our mission to grow and diversify our liquidity strategy.

Please review and vote to support the expansion of PsyDAO's liquidity to Base.