PIP-77 Reduce JPEG POL
Abstract
The current high liquidity of JPEG is hindering possible price discovery and is idle capital of the DAO. The proposal suggests to remove up to 90% of the POL and to stake the ETH.
Background
At the time of writing there are currently 3 pools where the DAO has liquidity: Curve Finance: 800k$ (669M JPEG & 180.1212 WETH) SushiSwap: 2.6M$ (2.14B JPEG & 584.0901 ETH) UniSwap: 940k$ (769M JPEG & 212 ETH)
The mcap/liquidity ratio for JPEG is high and prevents price discovery of the token while the ETH is sitting idle when it could be generating yield for the DAO.
We believe that removing up 90% of the liquidity of the sushi pool and all of the Curve pool would leave sufficient liquidity for large holders while allowing for easier price discovery.
Specification
Remove all of the POL on Curve Remove up to 90% of the POL on SushiSwap Stake the extracted ETH
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x9c50...a5dAC5 | 2.455B | Yes, remove liquidity |
 0x13F3...9b296a | 1.736B | Yes, remove liquidity |
 0x1Ddb...1253Bc | 843.43M | Yes, remove liquidity |
 0xE470...dAC46D | 606.706M | Yes, remove liquidity |
 0xa07d...cDFb75 | 598.412M | No, do nothing |
VOTE POWER
Proposal Status
- Wed December 06 2023, 05:16 pmVoting Period Starts
- Sat December 09 2023, 05:16 pmEnd Voting Period
Current Results
1-Yes, remove liquidity
6.403B
2-No, do nothing
598.412M