Summary

To build upon the Bank treasury diversification proposal (https://snapshot.org/#/tlbank.banklessvault.eth/proposal/0xb77fdcfe8a51c4efcb0526d83dbfc2b945646d126f2bc3d65fdcbab6577f3a79), I propose to reduce the DAO liquidity pool (LP) by a percentage of either 25% or 50%, to reduce the risk of holding the volatile BANK token, and to increase the longevity of the DAO with the increased ETH in the treasury.

The DAO LP currently holds ~$171,413.61 USD (a 50% split value of BANK/ETH). BanklessDAO is the holder/owner of this liquidity pool. See -https://zapper.xyz/apps/ethereum/uniswap-v3?tab=holdings&addresses%5B%5D=0xf26d1bb347a59f6c283c53156519cc1b1abaca51&addresses%5B%5D=0x4a80450a39de1f95c6971bf30ad86067ef531e4d&addresses%5B%5D=0x745ce2af76e9a6eba65cc0cacaa9ea109bb7fabd

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Specifications

The intent of this proposal is to accomplish the following:

1. Reduce the multisig risk of holding the high-risk BANK token over the long term
2. Provide a longer runway (i.e. longevity) for the multisig and the DAO by holding more ETH
3. Still provides an opportunity for BANK token holders to sell in remaining LP

Reducing the size of the LP will reduce the amount of BANK available for swapping. The purpose of a liquidity pool is to allow swapping of the two paired tokens, without having to sell the token, and therefore it would not affect the BANK token price.

If this proposal is passed to reduce the LP, the multisig would:

• Reduce the liquidity pool by either 25% or 50%, depending upon the passed percentage amount of this proposal.

You are voting for one of two options:

Option # 1: Approve this proposal to reduce the liquidity pool by one of two choices: a) reduce by 25%, or b) reduce by 50%.

Option # 2: To vote “No” to not reduce the LP at all.