VDP-20 [Governance] VitaDAO Liquidity Pools on Layer2s (Polygon, Gnosis Chain etc.)

Ethereum mainnet fees are high, and to make participation in VitaDAO easier, we propose to bridge VITA to Polygon and Gnosis Chain.

Summary

Users demand cheaper ways to participate in VITA, and governance. I propose that we experimentally explore bridging some small amount of $VITA owned by the DAO to the most used side-chains and layer 2s. Starting with Polygon and GnosisChain due to highest adoption, and later potentially Arbitrum, Optimism, Zksync and others.

Details

To ensure enough liquidity i'd propose budgeting $250k worth of $VITA and $250k worth of ETH to start with, to basically have one https://balancer.exchange/ pool on Polygon with $300k in total liquidity, and one https://sushi.com/ pool on Gnosis Chain with $200k in liquidity.

To ensure that the price of $VITA is similar on Polygon and Gnosis Chain compared to Ethereum I'd propose additional $50k worth of VITA +ETH on Polygon and Gnosis Chain each, controlled by the VitaDAO multi-sig with a bot buying or selling to ensure the prices are synchronized.

Implementation: Transferring total of 600k worth VITA/ETH ($300k in VITA, $300k in ETH) to Polygon/GnosisChain

• Transferring 350k worth of VITA/ETH (50-50) to VitaDAOs polygon multisig
• Transferring 250k worth of VITA/ETH (50-50) to VitaDAOs gnosis chain multisig

Additionally the tokenomics working group would suggest allocating $100k worth of VITA in rewards for providing liquidity on Balancer/Polygon (~$60k), and Sushi/GnosisChain (~40k) for the first year, which is fairly low considering the DAO would earn back a majority of these rewards by being a main liquidity provider.

For more information, please see the phase 2 proposal and discussion on Discourse: https://gov.vitadao.com/t/vdp-20-vitadao-liquidity-pools-on-layer2s-polygon-gnosis-chain-etc/483