Seed Liquidity for Lil Nouns on NFTX
Background
At the request of several DAO members, 24 ETH and 75 Lil Nouns have been used to seed liquidity for a Lil Nouns NFTX vault. This is expected to:
- improve floor liquidity
- create an incentive for arbitrageurs to bid in auctions
- generate trading fees
Link to vault creation transaction: https://etherscan.io/tx/0xf51446a834d9a76d9bb60d825830c85c62a3ead5cc3963efdd453562c208245b
Link to NFTX vault: https://nftx.io/vault/0x18222a762bf67024193de25e1cdc7aa6e614c695/
Proposal
This proposal is for the DAO to purchase the staked NFTX LP tokens from the vault creator at cost (24 ETH + 24 ETH worth of Lil Nouns = 48 ETH).
Amount: 42.426406871192850464 xLILWETH https://etherscan.io/token/0xb05de2ca5fd2bca1e154921022f5c21a3997b56b?a=0x4754b7e3dede42d71d6c92978f25f306176ec7e9
Directly purchasing staked LP tokens is significantly lower operational complexity than acquiring Lil Nouns and minting LP tokens through a time delayed governance process.
Past Discussion
https://discourse.lilnouns.wtf/t/public-good-swapping-and-dynamic-reserve/145
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x4754...6EC7e9 | 109 | FOR |
 0xEFCB...8dEdd8 | 30 | FOR |
 0xd3e2...83d0D0 | 29 | FOR |
 0x8Bec...4af8c3 | 25 | FOR |
 0x418C...17f9a3 | 21 | FOR |
VOTE POWER
Proposal Status
- Sun July 03 2022, 03:14 pmPublished Onchain0x4754...6EC7e9
- Tue July 05 2022, 04:02 pmVoting Period Starts
- Fri July 08 2022, 05:09 pmEnd Voting Period
- Fri July 08 2022, 06:31 pmQueue Proposal
- Sun July 10 2022, 06:34 pmExecute Proposal
Current Results
1-FOR
281
2-AGAINST
N/A Tokens
3-ABSTAIN
N/A Tokens