Cryptex

Dear Community Members,

A proposal has been put forward for the establishment of a SubDAO within the Cryptex protocol, aiming to manage liquidity provision. This initiative seeks to ensure the protocol remains decentralized and responsive to the needs of its users. Below are the revised details:

SubDAO Structure:

Separation from Core Team: The SubDAO will operate independently from the core development team. Multisig Management: A multisig wallet with 3 to 5 signers from the community will be established to manage the liquidity provision process. These signers will collectively manage the process. Community Voting: Decisions related to liquidity allocation, token pairings, and adjustments will be put to community votes. Decentralized decision-making leads to better outcomes for all stakeholders. Liquidity Provision Process:

TCAP Liquidity: As previously voted by the community, the PYTH airdrop funds will be used to add TCAP liquidity to Cryptex Pi. Please refer to this link for reference:https://snapshot.org/#/cryptexdao.eth/proposal/0x2327d7e847060ffb043a00b49d5e997992ebd83994acbd969ec27e144144f6e1

CTX Uniswap/Aerodrome Pool: As previously voted by the community, a CTX pool on a DEX on Base will be deployed. The CTX Uniswap/Aerodrome pool has already been approved by the community, and an onchain proposal will follow as soon as the SubDAO multisig is created. Please refer to this link for reference: https://snapshot.org/#/cryptexdao.eth/proposal/0xd21058fbf1224c2923cd09d38f3d99a1f08a1b698a329f71a917504c656ce96e

The SubDAO’s multisig will manage the liquidity provision for both TCAP and CTX pools.

Governance by CTX Holders: The SubDAO will be governed by CTX holders. Active participation in voting and decision-making by CTX holders will shape the protocol’s future. It is encouraged for all CTX holders to engage in the governance process and contribute to the protocol’s success.

Candidate Selection: Community members, please vote and select the candidates for the SubDAO multisig signers from the following list:

0xDonnie (Gabriel) Sai Um Lord PuG ClownBaby Michael (ifun) dnkta.eth

For more information about the candidates, please visit the forum: https://forum.cryptex.finance/t/create-a-cryptex-sub-dao-to-manage-liquidity-provision/405

Together, the community can build a stronger, more resilient protocol that serves the interests of all stakeholders. Let us embrace decentralization and shape the future of Cryptex.