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StarSeeds DAOStarSeeds DAOby0xF60De76791c2F09995df52Aa1c6e2E7DcF1E75d7starseeds-protocol.eth

LP Strategy Update - Update STARV4's Primary Peg to WETH

Voting ended over 1 year agoSucceeded

Summary This proposal suggests exchanging the StarSeeds Protocol’s WBTC/tBTC liquidity pool (LP) positions for a concentrated WETH/STARV4 set to a 0.005 coefficient due to increased risks associated with WBTC.

Motivation In recent news, the $9 billion in BTC backing WBTC has moved custody to an international company partially owned by an individual involved with several other pegged tokens that have crashed. As a result, the risk of WBTC depegging has increased substantially. Other BTC wrappers on Polygon, such as tBTC, do not trade well compared to WBTC, leaving no good alternative to WBTC.

Proposal Exchange the StarSeeds Protocol’s WBTC/tBTC LP positions.

Move to a concentrated, V3, DODO position in the WETH/STARV4 set with a 0.005 coefficient.

The proposed liquidity pool position can be viewed on DODO https://app.dodoex.io/pool/0x0919ffd256647ac8b52773dc93a079f3cd6d4188/network/polygon

Conclusion: Given the increased risk of WBTC depegging and the lack of viable alternatives, this proposal aims to safeguard the StarSeeds Protocol’s assets by shifting to a more stable and concentrated liquidity pool.

Off-Chain Vote

Approve
1.88M STARSEEDS100%
Deny
0 STARSEEDS0%
Further Discussion Required
0 STARSEEDS0%
Quorum:3753%
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Timeline

Sep 20, 2024Proposal created
Sep 21, 2024Proposal vote started
Sep 26, 2024Proposal vote ended
Dec 22, 2025Proposal updated