Proposal Details
Proposal #210
Proposal title
Incentivizing DOT/STARS Pools on the Pablo DEX
Submit time
Deposit end time
Voting start time
Voting end time
Tally result
Proposal #210 description
PROPOSAL The Composable Finance team proposes to allocate 2,000,000 STARS for a DOT/STARS pool on the Pablo Decentralized Exchange (DEX), to be paid for by the Stargaze community pool. These stars will be allocated over 180 days. The DOT/STARS pool is the first time STARS will be available to native DotSama users, thus the goal of this proposal is to attract additional liquidity to the pool. This proposal, if passed, would distribute the requested amount of STARS to the multi-sig account listed below, which will move the funds over to Picasso via its Centauri bridge. These incentives will go live on within a week of receipt. BACKGROUND Polkadot (DOT): Polkadot (DOT), the native token of the Polkadot Network. DOT’s use cases have been previously restricted to DotSama, with its key functions in Polkadot being securing the relay chain and leasing of parachains. However, Composable’s Centauri bridge now allows for the creation of new use cases for DOT in the interchain. This will likely also attract new users (from DotSama) to Cosmos and vice versa. DOT currently holds a market cap of $6,201,293,681, ranking 13th overall amongst networks and holds an average trading volume of $98,502,212 at the time of writing (as per CoinMarketCap). Polkadot has 1.4 million twitter followers, and 81.2 thousand reddit followers. The total value locked across all DotSama parachains is over $125 million. DOT is available on 96 exchanges (as per Coincodex), encompassing most of the major exchanges in the industry, such as Binance, KuCoin, OKX, Huobi Global, and Kraken. Notably, thanks to Composable’s Centauri bridge, DOT can now be exchanged for Cosmos-native assets on both Osmosis and Composable’s Pablo DEX. Thus, DOT is a highly available and popular asset, making it an optimal candidate to put in a liquidity pool with STARS. Centauri: Thanks to Composable Finance’s new Centauri bridge, Cosmos and Polkadot/Kusama are trustlessly connected for the first time. That means that assets can now flow back and forth between these two major ecosystems, opening new opportunities for users to participate and utilize idle assets. Centauri is the first trustless connection between DotSama and the Interchain. This is facilitated by both Composable’s Kusama parachain, Picasso, and the Inter-Blockchain Communication (IBC) Protocol. Resultantly, all 46+ IBC-enabled chains can interoperate with ~80 DotSama parachains, with each ecosystem’s native assets now being able to flow to the other. The Pablo DEX: The Pablo Decentralized Exchange (DEX) is the first trustless and non-custodial cross-ecosystem DEX unifying liquidity across the major ecosystems. Pablo exists on Composable’s Picasso parachain, and leverages the Centauri bridge. Thus, Pablo offers a number of liquidity pools between Cosmos-native and DotSama-native assets. Pablo’s DOT/STARS Pool The DOT/STARS pool on Pablo will enable users to take advantage of newly introduced opportunities to transact between Cosmos and DotSama. This will help facilitate the flow of liquidity and volume between DotSama projects and Cosmos Projects such as Stargaze. Specifically, DOT owners can come to the DOT/STARS pool on Pablo to swap for STARS, which can then be leveraged for use on Stargaze and beyond (and vice versa). Incentivizing this pool aims to attract liquidity in order to onboard new holders and users of STARS from the DotSama ecosystem. Multisig Funds will be received and moved from the Cosmos side using a 2-of-3 multisig handled by: Notional DAO (Development Shop + Validator) Alkedata (Validator) Don Cryptonium (Community Member) at multisig address stars1yfujl2wd6skqudwamk2z3e2f0q96k9urcgfpt8 Voting By voting Yes you agree to allocate 2,000,000 STARS to incentivize STARS/DOT LP on Pablo DEX. By voting No you reject allocating 2,000,000 STARS to incentivize STARS/DOT LP on Pablo DEX.