KIP-25: Dissolve 50% of Remaining BCT/USDC LP
Summary
Dissolve 50% of the remaining BCT/USDC LP from the treasury to bolster reserves.
Motivation
The justifications for disbanding BCT/USDC LP over time have been laid out in KIP-13. In summary, the pool use and growth have declined, meaning the resources within have better use elsewhere. This KIP is a continuation of that effort to decommission the BCT/USDC pool.
Unlike previous dissolutions, the resulting tokens from this dissolution will be held in reserve until an appropriate tactical or strategic initiative is passed via a future KIP to allocate them.
The Policy Team is also coordinating with the Engineering Team to ensure all of our operational systems (UI, Dune dashboards, Subgraphs) are prepared for the BCT/USDC pool to be fully deprecated in a subsequent KIP.
Proposal
Dissolve 50% of the current USDC/BCT LP pool, resulting in ~4 million USDC and ~2 million BCT.
- The USDC obtained will bolster the treasury’s tactical reserve of stablecoins, enhancing optionality for the protocol
- The BCT obtained will provide additional reserves to back KLIMA, extending the staking reward runway and bolstering CC/KLIMA.
Links
- SushiSwap pool: https://analytics-polygon.sushi.com/pairs/0x1e67124681b402064cd0abe8ed1b5c79d2e02f64
Polling Period
Polling will open at 6:30pm UTC on June 14th and conclude 3 days later at 6:30pm UTC on June 17st.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x8fF4...b5Ff9D | 16,095 | Against: do NOT dissolve |
 0x730C...9D2317 | 14,523 | For: dissolve |
 0xdf6B...E90595 | 14,316 | For: dissolve |
 0x1560...aBd89D | 13,742 | For: dissolve |
 0x9E43...9aFb4F | 13,572 | For: dissolve |
VOTE POWER
Proposal Status
- Tue June 14 2022, 06:30 pmVoting Period Starts
- Fri June 17 2022, 06:30 pmEnd Voting Period
Current Results
1-For: dissolve
158,745.202
2-Against: do NOT dissolve
16,538.532