Proposal Details
Proposal #141
Proposal title
Protocol Owned Liquidity proposal on WYND DEX
Submit time
Deposit end time
Voting start time
Voting end time
Tally result
Proposal #141 description
This proposal is to request 166,000 $JUNO ($250,000) from the community pool to be added with 835,000 $WYND ($250,000) minted by the WYND DAO into the JUNO/WYND pool on WYND DEX as Protocol Owned Liquidity.
You can read more about what is POL and WYND DEX here
https://dex.wynddao.com/ https://medium.com/wynddao/wynnovation-protocol-owned-liquidity-78fbbadac86f
Parameters of this agreement if passed
- ~$500,000 of liquidity will be added to the WYND/JUNO pool on WYND DEX.
- The Juno Community pool and the WYND DAO will each own 50% of provided liquidity. This is not a spend, but rather a reallocation of unutilized $JUNO into a defi protocol.
- The liquidity may be removed at a future date, and the value of the liquidity at the time of removal will be returned to the Juno Community pool and the WYND DAO at 50/50 distribution. Specifically, at the time of removal from the liquidity pool, all available $JUNO will be sent to the Juno Community Pool and all available $WYND will be sent to the WYND DAO.
- None of the liquidity will be bondend so it will not impact incentives for regular liquidity providers. If community want to bond these tokens they should open a new governance proposal specific for this.
- In case the community decides to bond tokens in the future, the incentives earned will be split 50% to Juno Community pool and 50% to WYND DAO.
- $WYND incentives earned by Juno Community pool will be sent to the Juno Community pool. The Juno Community pool has the full right to determine how these assets are used, including but not limited to selling/swapping, staking for governance rights, providing liquidity, or to use in other defi applications.
- Participation in Protocol Owned Liquidity can be withdrawn at any time for any reason by either party.
- Modification of existing parameters, such as adding, partially removing liquidity, or adding / modifying the bondend amount or duration will also require an on-chain governance vote by both parties.
Plan of action
Community pool tokens from Juno and WYND DAO will be sent to a Juno/WYND PoL multi-sig address that will then allocate token to the liquidity pools. This subDAO will also maintain custody of the LP position unless a governance proposal from either Juno or WYND dictates otherwise.
Any excess $WYND goes to the WYND DAO community pool. This means in effect that each side contributes a maximum number of tokens as given in the proposal, but the swap is performed at market price at time of LPing, so the token with better price action will receive some of the tokens back
Multisig members are
- Esse (Made in Block Validator)
- Jakub (WYND Developer)
- Rarma (Community Member)
- CryptoCakir (Stake & Relax Validator)
- Mike Purvis (CronCat co-founder)
Multisig can be viewed here: https://daodao.zone/dao/juno1nmua4tj8kxvfmzexx8vuggv2zzq24hf8t7grvjjvc2xjll3vjwyqf4eshn
Note
Protocol Owned Liquidity is a novel concept that has yet to be successfully implemented in the Cosmos Ecosystem. If this proposal passes, Juno will be the home of the first ever protocol owned liquidity governed by a DAO. The successful implementation of Protocol Owned Liquidity with the Juno Community pool will pave the way to attract more interchain liquidity to Juno Network and WYND DEX.
Voting:
- YES - You agree to provide 166,000 $JUNO from the community pool to participate in protocol owned liquidity on WYND DEX
- NO - You don’t agree to provide 166,000 $JUNO from the community pool to participate in protocol owned liquidity on WYND DEX
- ABSTAIN - You formally decline to vote either for or against the proposal
- NO WITH VETO - You would like to see depositors penalized by revocation of their 1000 JUNO deposit, and contribute towards an automatic 1/3 veto threshold.