Close Virtue/ETH Curve Liquidity Pool

Objective

We will close the Virtue/ETH liquidity pool (LP) by withdrawing our initially provided liquidity to the VirtueDAO multisig wallet. This decision allows us to bolster the funds available to VirtueDAO, ensuring its stability and growth.

Details

• Assets in the LP: At present, there are ~9.4 ETH and 26.7k Virtue in the Curve LP.
• DAO Financial Position: VirtueDAO currently has limited operational funds (~1.67 ETH) at its disposal.
• Bonding Situation: Post-launch of the LP, no further bonding activities have been noticed. This indicates the presence of a more cost-effective means to obtain Virtue.

Implications

• Liquidity Boost for VirtueDAO: By consolidating the LP funds, VirtueDAO will be better positioned to financially back future Idolverse projects, invest in revenue-bearing assets such as Idols, and offer incentives to attract and retain contributors.
• No Impact on Bonding: Closing the LP is unlikely to alter the existing bonding dynamics. To rejuvenate interest and demand for Virtue, additional strategic efforts are required.

Voting

This Snapshot vote is a single choice vote, with voting options:

For - Close the Virtue/ETH Curve LP. Against - Do nothing.

Discussion