Improve capital efficiency of Polygon LP, Increase ETH position
Background
Decentral Games currently holds $1.0m Ethereum mainchain DG/ETH liquidity and $0.6m Polygon DG/Matic liquidity.
The DG DAO also has $1.1m in ETH (across ETH, stETH, and 2 ETH nodes) and a Polygon node with $0.9m in MATIC.
Proposal
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Remove the DG/MATIC v2 LP on QuickSwap; Convert existing $0.3m worth of MATIC currently paired with DG on Polygon to ETH
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Retain $0.15m ETH and $0.15m DG in the Treasury
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Add $0.3m in DG/ETH v3 LP on QuickSwap v3 in the [$0.015, $0.06] range.
Rationale
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Shifting $0.3m MATIC to ETH is appropriate given the already large MATIC position staked in our Polygon node.
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Given the move from v2 to v3 liquidity with the chosen range means that we will have the same depth on Polygon for trading while using less capital.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x4845...181743 | 10M | Yes |
 0xE2be...315BF0 | 5.348M | Yes |
 0xA170...B83867 | 5M | Yes |
 0x1D91...5Cd096 | 1.37M | Yes |
 0x89a1...6e99a9 | 309,007 | Yes |
VOTE POWER
Proposal Status
- Tue August 22 2023, 10:45 pmVoting Period Starts
- Fri August 25 2023, 07:44 pmEnd Voting Period
Current Results
1-Yes
23.08M