Tempus

In this proposal, I suggest migrating approximately $2m of the current liquidity deployed in Uniswap on Ethereum onto SpookySwap on Fantom.

Motivation

SpookySwap is currently the largest DEX on Fantom with $1.2bn TVL (source: Defi Llama) with approximately $250m 24 hr trading volume on average (source: Coin Gecko).

To foster healthy growth and traction within the Fantom ecosystem as we launch and develop the products, we believe having a tradable $TEMP token on Fantom is key to enabling Fantom users to join the Tempus community. Lastly, by doing this, we also expect a net increase in $TEMP trading volume, which is generally a key criterion for CEX listings.

Proposal

The $TEMP token is currently one of the most liquid tokens for the market cap on Ethereum, with approximately $8.8m of TVL between the Balancer and Uniswap liquidity pools. This allows $TEMP tokens to be traded at large sizes with minimal slippage. We believe migrating the $2m liquidity from the Uniswap USDC/TEMP pool 1 to a new TEMP/WFTM pool on SpookySwap will provide sufficient liquidity for larger trades to be executed on Ethereum with minimal slippage and at the same time allow Tempus to captivate some of the vibrant Fantom community to join Tempus.

Next steps

1. If this proposal is voted yes, we will proceed with withdrawing from the USDC/TEMP Ethereum pool and bridging across (using Multichain) the assets
2. Convert USDC to WFTM
3. Wait for TEMP to be whitelisted with Multichain and SpookySwap (underway)
4. Provide liquidity to the $2m USD liquidity to TEMP/WFTM

Original discussion: https://forum.tempus.finance/t/proposal-migrate-dex-liquidity-from-ethereum-to-fantom/125