Proposal Details
Proposal #279
Proposal title
Protocol owned liquidity: seJUNO/JUNO on Wynd DEX
Submit time
Deposit end time
Voting start time
Voting end time
Tally result
Proposal #279 description
Proposal
This proposal is requesting 1,000,000 $JUNO from the Juno Community pool to the seJUNO/JUNO pool as Protocol owned liquidity introduced by WyndDAO. 500,000 $JUNO will be converted to seJUNO and it will be deposited to seJUNO/JUNO pool on wyndDEX. The tokens will not be bonded (though this can be changed via Juno governance).
StakeEasy, the first liquid staking solution that has been live on the Juno network for 8 months and has proven to be a reliable and effective staking platform. Currently, StakeEasy has a total value locked (TVL) of 109,000 $JUNO tokens which has been raised organically.
Benefits
-
This bootstraps the adoption of LSD assets on Juno as a whole which will drive tremendous value and TVL to Juno from other projects and ecosystems. The proposal will result in the overall development of the Juno ecosystem, with StakeEasy and Wynd DEX both benefiting from increased liquidity.
-
The Juno community pool currently holds 16,067,447 $JUNO. This is losing 20% of its value this year due to the inflation rate. Half will be staked as seJUNO which enables the community pool to earn revenue.
-
There will be no negative price impact to JUNO because it is a seJUNO/JUNO pair which creates no sell pressure.
-
The Juno community will retain full control over these assets. There will be extremely limited IL due to the setup of the Staking Swap pool.
-
The establishment of deep liquidity in the seJUNO/JUNO pool paves the way for vast DeFi opportunities on Juno and is expected to drive more LSD and DeFi adoption through current and future project synergies.
-
We believe that our proposal is a win-win situation for everyone involved. By supporting our proposal, you will be contributing to the growth and development of the Juno ecosystem. We hope that you will consider our proposal and support us in this endeavor.
About stakeEasy
-
Reliable and Trustworthy: StakeEasy has been live on the Juno network for months and has proven to be a reliable and effective staking platform reaching a TVL of 400K $JUNO a few months back.
-
Low Fees: StakeEasy charges comparatively low fees i.e. 5%, making it a more attractive option for staking JUNO and the organic growth speaks volumes about our reliability and trustworthiness.
-
Strong Presence on DEXes and other DeFi: StakeEasy had a strong presence on the Juno Network's decentralized exchange (DEX) JunoSwap, with pools ranked in the top 10 in terms of liquidity. However, after JunoSwap's failure, the liquidity has been migrated to Wynd DEX. With that we have liquidity pools on Loop DEX as well.
-
Partnership Opportunities: StakeEasy is open to collaborating with other projects and protocols in the Juno ecosystem, which can result in more opportunities for growth and development. However, there is still much more that can be done to strengthen the ecosystem and promote further growth.
-
Open source: The source code for the stakeEasy liquid staking contract is open-source and can be found here. These contracts have been extensively tested with unit/integration tests and been battle tested on juno's mainnet for last 8 months. The integration tests can be found here.
-
Upcoming gauges system: The stakeEasy dev team is in testing phase on the new gauge based validator selection system which futher decentralizes the validator set selected for liquid staking.
Plan of action
Community pool tokens from Juno will be sent to a seJUNO/JUNO 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 Juno dictates otherwise.
Multisig members are:
- Rarma (Community member)
- 360Bilal (Community member)
- giansalex (Disperze validator)
- CommunityStaking validator
- Udit (StakeEasy developer)
Multisig can be viewed here: https://daodao.zone/dao/juno1ev4dfsh7uhrpclrj2gr7tx4pq5kl3gxju7s980r3mzgp6g9z625qfxur6y
Voting
YES - You agree to provide 1,000,000 $JUNO from the community pool as Protocol Owned Liquidity to be deposited into the seJUNO/JUNO pool
NO - You do not agree to provide 1,000,000 $JUNO from the community pool as Protocol Owned Liquidity to be deposited into the seJUNO/JUNO pool
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.