Proposal Details
Proposal #200
Proposal title
MantaDAO - Stargaze token swap
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Deposit end time
Voting start time
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Tally result
Proposal #200 description
MantaDAO is seeking $50,000 of STARS from the Stargaze Community Pool as a token swap in exchange for $50,000 of MNTA (the exchange ratio will be based on 20-day TWAP). MantaDAO will pair the received $50,000 STARS with an additional $50,000 of MNTA from its treasury to be provided as liquidity on BOW in the STARS/MNTA pair. Likewise, we propose that the Stargaze Community Pool pairs the received $50,000 MNTA with an additional $50,000 STARS from its treasury which is provided as liquidity on BOW in the STARS/MNTA pair. If accepted, this proposal will greatly increase liquidity for STARS on Kujira, and facilitate several liquidity routes through the STARS/MNTA pair. In particular, this would enable traders to swap STARS for axlUSDC, USK, ATOM and KUJI at very low slippage via MantaSwap’s multi-hop router. This is made possible by routing trades via the $100k MNTA/KUJI LP owned by MantaDAO which acts as an intermediary step to the deepest KUJI pools on FIN (e.g. to trade STARS for axlUSDC, the route would be STARS<>MNTA<>KUJI<>axlUSDC). This proposal will result in a total of $200k in liquidity for the STARS/MNTA pair on BOW, and $100k in revenue-generating POL for both the Stargaze Community Pool and MantaDAO. The full text of the proposal is here: https://gov.stargaze.zone/discussion/12186-understanding-mantadao-and-stargaze-token-swap-implications-and-expectations Recipient address is the 3/5 multisig on Stargaze, built as a part of Execution process, Stage 2. Multisig address: https://www.mintscan.io/stargaze/wasm/contract/stars1fv4x7hp6jv7wldfee8tq4hnt4flpeg8apqut67w6qycqezjzes0s4p9plt Multisig UI: https://safe.apollo.farm/stargaze-1/stars1fv4x7hp6jv7wldfee8tq4hnt4flpeg8apqut67w6qycqezjzes0s4p9plt/members Members of the multisig are: stars1ay2e2mgmdzkcp7we97v2aarjdh30nz4kesad3d - Mike Richards, founder of MantaDAO, stars1fcjfkaxndx26zua4k6vfca8vnrayt23c0z53qd - s3drik, Narwhal Security validator, stars1jume25ttjlcaqqjzjjqx9humvze3vcc8qf2kwl - Gelotto validator, stars1n9uxw8r2nnfcrwhwt5q3gu285ppgmansy9nkwn - Vladimir GG aka Qwerto Alivus, MantaDAO contributor, stars1tn84uta3qhhk3fphcwydktpjlq6akgw3v3tjfd - Golden Ratio Staking validator. The requested amount of 9,922,514 STARS was calculated on a TWAP basis: https://docs.google.com/spreadsheets/d/1Co-O30vB2lUg5zuri2T1pK-qcts40lKT9At34_taL3M/edit#gid=0