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SharedStakeSharedStakeby0x610c92c70Eb55dFeAFe8970513D13771Da79f2e0chimeradefi.eth

SIP-34: Add SGT Liquidity to uniswap from the DAO

Voting ended over 2 years agoSucceeded

This proposal seeks approval to deploy upto 200,000 SGT tokens from the DAO multisig treasury onto Uniswap.
We need to raise at least ~$10k-30k for audits. Additionally we have thin liquidity for traders and some 3 million SGT tokens sitting unused in the treasury multisig.

This small treasury diversification will be done in 2 ways.

1. Market sell SGT with community warning

100k SGT will be market sold by the treasury in batches of 10k each. Each batch will not move the market or result in more than 10% slippage Each tx will be queued, announced, approved by, and executed from the multisig with a 1 hour warning posted on discord when executing. The sells will be carried out using cowswap.

2. List single side SGT on uniswap v3.

List 100k SGT single sided on uniswap v3. Profit from the pool can be drawn when rebalancing and collecting fees.
This also aligns holder and treasury interest with traders and lets us be our own market maker in high volatility, high fee generating bear market environment while keeping emissions low. We will list 2 bins. One wider to capture profits when price moves. Capped at the price on bunni.pro. One smaller bin, around H1 price movements, to capture fees. Both bins will be starting at single sided market price on uniswap at the time.

Off-Chain Vote

Yay
7.32M veSGT96.1%
Nay
298.84K veSGT3.9%
Abstain
0 veSGT0%
Redo / discuss
0 veSGT0%
Quorum:15227769%
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Timeline

Aug 01, 2023Proposal created
Aug 01, 2023Proposal vote started
Aug 06, 2023Proposal vote ended
Oct 26, 2023Proposal updated