Kujira Proposal 473
PROPOSAL_STATUS_PASSED
/cosmos.gov.v1.MsgExecLegacyContent
--- "@type": "/cosmos.distribution.v1beta1.CommunityPoolSpendProposal" title: "$100k KUJI<>MNTA Token Swap with Kujira Community Pool" amount: - denom: ukuji amount: '294841000000' recipient: kujira1zspr6va4ev78lpsh48s57nv6szxj4cdywt2kkg description: "MantaDAO would like to propose a $100k treasury swap deal with Kujira Community Pool that will enable further acceleration of our liquidity building efforts for Kujira.\n\n- We are proposing a $100k KUJI<>MNTA mutually beneficial token swap. Exchange ratio based on 10d TWAP: https://t.ly/3eb2V.\n\n- MantaDAO will match the received KUJI with another $100k of MNTA in a BOW LP.\n\n- Kujira Community will match the received MNTA with another $100k of KUJI in the same BOW LP.\n\n- This will result in $400k of additional KUJI/MNTA liquidity, bringing the total LP size to $600k+ and enabling swaps of up to $3k with less than 1.0% price impact for a diversified range of tokens thanks to MantaSwap’s multi-hop routers.\n\n- Half of the LP ($200k) will be owned by the Kujira Community Pool; the other half ($200k) will be owned by MantaDAO.\n\n- This should lead to more volumes on FIN and more fees for KUJI stakers:\nDeeper liquidity means traders are able to execute larger orders without a deterring price impact, leading to more volumes FIN.\nWhen MantaSwap route a trade via multiple hops, it means most of the time executing 3 market orders on FIN instead of one, meaning 3x more volumes and 3x more fees for KUJI stakers (3x 0.15% taker fee).\n\n- This will sustainably deepen liquidity for KUJI in the form of Protocol Owned Liquidity, without the need for any incentives. This allows KUJI to absorb more sell pressure with reduced price impact, leading to greater price stability.\n\n- This will diversify Kujira Community Pool treasury and create a new source of income in the form of trading profits from market-making activities (see slide 9 for a summary of the performance of the MNTA/KUJI LP to date).\n\nRecipient address is the Kujira team’s ops wallet, which will act as the intermediary for Kujira on-chain operations as specified in Deal Mechanics.\n\n\nThe full text of the proposal: https://drive.google.com/file/d/14ALE66YWntNWOeKPA9gO7BwsB7kRac8G/view\n\nDiscussion: https://discord.com/channels/970650215801569330/1153299784199835679 "
page last updated 2024-11-03 12:57:43 UTC