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UniDex ExchangeUniDex Exchangeby0x2E5d207a4C0F7e7C52F6622DCC6EB44bC0fE1A13unidexapp.eth

Should we move the current liquidity from UniswapV2 onto Spiritswap?

Voting ended over 4 years agoSucceeded

Our token is now able to be bridged onto Fantom and is tradable on Spiritswap. Currently, about $40,000 liquidity is on Spiritswap as part of a farming incentive and bootstrap in collaboration with Spiritswap.

We want to propose to the community the action of moving current liquidity onto Fantom because we believe the benefits heavily outweigh the cons. Here is why we believe this move will greatly benefit UNIDX and UniDex.

  1. Easier access to the UNIDX token

Currently, users are limited and burdened by the high costs of the ETH mainnet. This limitation removes the possibility of the majority of wallets considering buying the token because of higher gas fees which mean lower fees for UniDex and thus holders. This will allow a much wider and diverse range of traders, holders, and users able to interact with the UNIDX token. The accessibility of the chain is not an issue due to current next-gen bridging solutions like anyswap, multichain.xyz, and the other vast number of bridges available for Fantom.

Any current UNIDX holder can easily bridge their existing UNIDX onto Fantom in minutes through multichain.xyz and start trading or holding, and the same goes for any other existing asset like USDC, WETH, or DAI.

  1. A new audience of traders exposed to the UniDex terminal and thus more rewards for holders.

It's no surprise token adoption can lead to platform adoption when there is a financial incentive. Die-hard Fantom traders will be exposed and incentivized to trade on the UniDex terminal or at least hear about it through our exposure on Spiritswap.

  1. More liquidity in the long term

Because this is a collaboration & partnership, there will be a greater incentive to provide liquidity on both ends. The IL that occurs will be adjusted to make sure that those participating in farms ( which don't emit UNIDX so there is no dilution or negative price impact ) so they can easily use that extra capital to recoup their UNIDX and also earn more rewards for providing liquidity.

We believe this is a move that will help the project in the short and long term for more reasons than just these 3, but want to know how the community feels about this suggestion.

Off-Chain Vote

Yes
445.6K 74.3%
No
154.18K 25.7%
Download mobile app to vote

Timeline

Aug 03, 2021Proposal created
Aug 03, 2021Proposal vote started
Aug 06, 2021Proposal vote ended
Oct 30, 2024Proposal updated