SIG Proposal: Over-the-counter (OTC) Agreement for GHST Holdings of 0VIX Users
Authors: 0VIX Protocol GotchiIDs: 22864 (@Maxicrouton) Quorum requirement: 20% (9M) Vote duration: 7 days Discord Thread: Aavegotchi>DAO>0VIX Discussion
Introduction:
In order to prevent a negative market impact of a sudden liquidation of 763,624 GHST tokens, an Over-the-Counter (OTC) transaction with the AAVEGOTCHI DAO treasury is being proposed. @Maxicrouton is one of the main points of contact here that will assist with that transaction. This method is preferable due to its ability to reduce a substantial price pressure that could result from a sell order of this magnitude.
Objectives:
In essence the goal is to secure a fair OTC deal that meets the needs and expectations of all stakeholders involved. Aavegotchi DAO’s goal is to mitigate the sell pressure on the GHST token while concurrently ensuring the rightful owners of the funds receive their funds 0VIX users want to have a fair price and get the maximum value from funds recuperated
Option A:
Yes to the OTC deal at a fixed price. That option offers the key advantage of price certainty and stability for both Aavegotchi DAO and 0VIX users. It circumvents market volatility by averaging prices over the days that the CoreProp is voted on, thus providing a quick execution route for the transaction.
Option B:
This SigProp has been discussed extensively over the past days and weeks. If there are questions please refer to the 0VIX discussion sub-channel on the AV DAO discord.
If the community feels it requires even further discussion, then please vote for this option.
Options:
Option A: Yes to the OTC deal at a fixed price. Option B: Further Discussion needed
Once the coreprop has been successfully voted on, another proposal will be created to vote on the funds to be sent from the treasury wallet of Aavegotchi DAO, where they currently are held, to the multi-sig wallet of the 0VIX DAO on Polygon PoS (0x7b2b0cBaDC25953A64D77B4785848b48B45E1017) as suggested by @Maxicrouton.
As it stands now the multi-sig co-signers would be Hamzah Khan, Head of DeFi at Polygon Labs and Benjamin.lens, core-contributor at QiDAO.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xDd56...1eAC63 | 3.013M | 92% for OTC deal at a fixed price, 8% for Further discussion needed |
 0x5119...aecA6C | 1.158M | 92% for OTC deal at a fixed price, 8% for Further discussion needed |
 0xdCf4...6EAbc0 | 401,301 | 100% for OTC deal at a fixed price |
 0xc46d...4c66de | 226,101 | 100% for OTC deal at a fixed price |
 0x417a...be8C48 | 195,417 | 100% for OTC deal at a fixed price |
VOTE POWER
Proposal Status
- Fri June 30 2023, 09:49 amVoting Period Starts
- Fri July 07 2023, 09:48 amEnd Voting Period
Current Results
1-OTC deal at a fixed price
9.24M
2-Further discussion needed
1.936M