Proposal Title	Author(s)	Phase	Type	Date Created
“Temp Check” - Enable SHU Listing & Trading on a Centralized Exchange	Artis Systems	I	Snapshot	10 June 2024

Title

“Temp Check” - Enable Shutter Token (SHU) listing and trading on a centralized exchange (CEX)

Proposal

• Transfer 50,000 USDC to Artis, who will then transfer 50,000 USDC to the CEX for listing fees

• Expressly authorize Artis to conduct market making activities for Shutter DAO 0x36

• Transfer 2,400 USDC to JLH to cover annual account custody, balance report and monitoring bot

Background

Shutter Token (SHU) is the governance token of Shutter DAO 0x36.

Shutter DAO 0x36 currently supports a SHU/USDC pool on Uniswap v2 on Ethereum Mainnet, and is considering supporting additional SHU/USDC pools on Uniswap v3 on Optimism Mainnet (an Ethereum L2) and Swapr on Gnosis Chain. SHU is also available for trading on other DEXs and CEXs. However, Shutter DAO 0x36 does not support these pools.

Artis has been working to list SHU on a particular CEX. The CEX cannot be identified here due to a confidentiality clause in the listing agreement, and also in order to ensure the CEX can issue an exclusive announcement upon the listing going live. Artis believes the CEX is a mainstream, reputable centralized exchange, which can add value to Shutter DAO 0x36 and the SHU token.

Potential Benefits of a CEX Listing

Broader Audience: CEXs typically have larger user bases than DEXs. A larger user base may expose SHU to a larger and more diverse audience, including institutional investors and retail traders who may not be familiar with decentralized exchanges. Additionally, CEXs often promote new listings through their marketing channels, social media, and newsletters, which may increase SHU’s visibility.

Reputation Boost: Prospective token purchasers may view SHU as more legitimate and trustworthy.

Increased Trading: CEXs typically have higher trading volumes compared to DEXs. Increased trading may lead to better liquidity for the token, making it easier for users to buy and sell without significant price slippage. Furthermore, more buy and sell orders may create a deeper market, which may help in stabilizing the SHU price.

User-Friendly Interfaces: CEXs offer more intuitive and user-friendly interfaces than DEXs. CEXs also provide fiat on-ramp services, allowing users to purchase tokens directly with traditional currencies, which can simplify the buying process and attract more users.

Advanced Trading Tools: CEXs offer advanced trading features such as margin trading, stop-loss orders, and futures contracts - which can attract more sophisticated traders. CEXs also provide robust APIs for algorithmic trading, enabling developers to build trading bots and other automated trading systems.

Details

- Transfer 50,000 USDC to Artis, who will then transfer 50,00 USDC to the CEX for listing fees

Shutter DAO 0x36 will transfer 50,000 USDC to Artis. Artis will then pay the CEX listing fee of USDC 50,000.

This is a one time transfer.

Expressly authorize Artis to conduct market making activities

Shutter DAO 0x36 will expressly authorize Artis to conduct market making activities for it on:

• the CEX, and
• all DEX pools to which Shutter DAO 0x36 provides liquidity

Transfer USDC 2,400 to JLH to cover account custody and monitoring bot for 1 year

Shutter DAO 0x36 will transfer 2,400 USDC to JLH. JLH will manage the account which custodies the market making funds and create a monitoring bot.

Segregating strategies and funds is considered best practice. JLH will provide independent asset oversight, ensuring that all Shutter DAO 0x36 members have access to accurate account information.

This is a yearly transfer. In the future, Shutter DAO 0x36 may consider creating a payment stream to JLH for this purpose.

Platform

Snapshot

Voting Options

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License