Proposal Details

Proposal #110

Passed

Proposal title

Community Pool Spend

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

98.66%

Proposal #110 description

This proposal is intended to authorize a one-time transfer of 122,500 SOMM from the community pool to multi-sig address somm1n96wzq4yyqakcy3fu0wpan9hpy8m8ttgk5njky on Sommelier. These tokens will be used to incentivize liquidity on Osmosis, the largest DEX in the Cosmos ecosystem and predominant SOMM liquidity hub over a period of 60 days. The total amount of tokens for the proposed program represents 0.102% of the tokens in the community pool.

The SOMM-nUSDC pair is different from the existing SOMM liquidity options in that it pairs SOMM against a stablecoin rather than against another volatile crypto asset. Therefore, rewards to bootstrap this pool provide yet another option for those interested in providing SOMM liquidity. Additionally, deep token liquidity is critical for enabling SOMM integrations in other DeFi applications within the Cosmos ecosystem as it is required for liquidations, oracles, etc.

In the future, Sommelier may want to launch similar programs on Osmosis with different parameters - any future program is outside of the scope of this governance action and will require a new proposal. In the event that there are unused funds, those funds will be returned to the community pool.

The multi-sig will be composed of a mix of early developers on the Sommelier Chain as well as contributors to the Sommelier ecosystem. An updated list with the participants in the multi-sig will be listed below:

This proposal, if accepted, will spend 122,500 SOMM from the community pool to a to-be-created multi-sig address somm1n96wzq4yyqakcy3fu0wpan9hpy8m8ttgk5njky on Sommelier, to be distributed to incentivize liquidity for the SOMM-nUSDC concentrated liquidity pair (pool 1372) on Osmosis over a period of 60 days.

Proposal #110 overview

Total votes
519
Voters
514
Total deposit
5,000 SOMM

Proposal #110 votes

#

Validator

Account Address

Options
1validao.xyzYes
2Lavender.Five Nodes 🐝Yes
3RockawayX InfraYes
4Chorus OneYes
5Frens (🤝,🤝)Yes
6ValidatusYes
7A-gamingYes
8Standard CryptoYes
9KleomedesYes
10Seven SeasYes
11Stakewolle.com | Auto-compoundYes
12Chill ValidationYes
13Defi Dojo ValidationYes
14BitNordicYes
15✅ CryptoCrew Validators #IBCgangAbstain
16Simply StakingYes
17sleepykittenYes
18StakecitoYes
19RorcualYes
20MeriaYes
21EverstakeYes
22TessellatedYes
23blockscapeYes
24KingSuperYes
25AutoStake 🛡️ Slash ProtectedYes
26FreshSTAKINGYes
27web34everYes
28CosmostationYes
29Imperator.coYes
30polkachu.comYes

View: