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Knights of Degen DAOKnights of Degen DAOby0x01a719a37c75F63968C0E597318914Fb3210608fBenji

Add DGEN Liquidity to Uniswap Liquidity Pool

Voting ended over 2 years agoSucceeded

DESCRIPTION This proposal is to allocate 2 Million DGEN to the Uniswap Liquidity Pool as single sided liquidity. This would entail 1 million DGEN from the DAO treasury and 1 million DGEN from KOD Inc.

MOTIVATION The current DGEN<>ETH trading pair on Uniswap has very little liquidity. While this has helped stem a rush of sell offs in the initial phase of the token launch, the liquidity is so low that many individuals are unable to purchase DGEN via Uniswap due to a lack of DGEN in the pool.

Argument For: -Strengthen liquidity to support buying DGEN via Uniswap. -DAO will earn trading fees from the liquidity -Right now only the DAO has enough DGEN to make a meaningful impact on the state of the Liquidity Pool

Argument Against: This will release more DGEN into circulating supply but the overall impact should be small since the DGEN will have to be purchased first. Unlike giving users DGEN for free which can create more sell pressure.

TECHNICAL DETAILS The Council will create a new hot wallet and transfer the DGEN from the the DAO treasury and KOD Inc to the hot wallet. Then the DGEN will be added to the Liquidity Pool. The resulting LP Tokens received once the DGEN has been added will then be transferred back to the DAO Treasury to be held until/if there is a vote to remove the Liquidity from the LP.

BUDGET ANALYSIS 2 Million DGEN will be allocated to the Uniswap Liquidity Pool as Single Sided Liquidity.

Off-Chain Vote

For
2.04M DGEN97.3%
Against
55.62K DGEN2.7%
Abstain
0 DGEN0%
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Discussion

Knights of Degen DAOAdd DGEN Liquidity to Uniswap Liquidity Pool

Timeline

Sep 19, 2023Proposal created
Sep 19, 2023Proposal vote started
Sep 22, 2023Proposal vote ended
Oct 11, 2024Proposal updated