Cryptex

Dear Cryptex DAO members,

As mentioned in the previous proposal (https://www.tally.xyz/gov/cryptex/proposal/19), we will now proceed with the second on-chain vote regarding liquidity management.

Due to recent developments, the DAO has received USDC from market makers who have exercised their options. This influx of funds enables the DAO to proceed with the establishment of the CTX trading pool without the need for programmatically selling CTX for USDC as initially planned.

To expand CTX liquidity on decentralized exchanges, the Cryptex DAO will allocate 50’000 CTX and 150,000 USDC from the Cryptex DAO Treasury. This amount will be transferred to the Cryptex Liquidity Management SubDAO.

The Cryptex Liquidity Management SubDAO is a decentralized autonomous organization within the Cryptex ecosystem that manages liquidity provision for the protocol. It operates independently from the core development team and is governed by a multisig wallet managed by community members. The SubDAO’s primary role is to make decisions related to liquidity allocation, token pairings, and adjustments, ensuring the protocol remains decentralized and responsive to the needs of its users.

We invite all members of the Cryptex community to vote on this proposal to start the transfer. Your participation is crucial in shaping the future of our protocol and ensuring its continued growth and success.