Proposal: Increase the trading liquidity limit in the ENS-BNT pool to 200K BNT

DAO Archive (SUBMITTED)
1

Proposal to increase the trading liquidity limit in the ENS/BNT pool to 200k BNT

For this proposal to pass, it requires a 35% quorum and 66.7% supermajority.

This proposal is expected to appear on Snapshot for voting on 2022-01-16T00:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

TL;DR

The ENS-BNT pool was recently whitelisted and is currently at $294,852 liquidity.

This proposal aims to increase the trading liquidity from 50k BNT to 200k BNT to open up space for new liquidity to come in and help reduce price impact on swaps and thus increase pool volume.

Rationale

Liquidity on other DEXes on Ethereum is:

$4.41M on Loopring ENS/ETH pool.

$3,975,504.62 on Sushiswap ENS/WETH pool.

$18.61m on Uniswap v3 0.3% ENS/ETH pool.

Given how deep the ENS liquidity is now, this proposal seeks to increase the trading liquidity limit from 50k BNT to 200k BNT. If the pool fills up with the new trading limit, it would have a liquidity of at least $1.3m. Further trading liquidity limit increases can then be proposed to the DAO.

FOR

Increase trading liquidity in the ENS-BNT pool from 50k BNT to 200k BNT.

AGAINST

Keep the trading liquidity in the ENS-BNT pool at 50k BNT.

3 Likes
2

Thanks, I am 100% onboard with deepening the liquidity on this token.

1 Like
3

Proposal never made it to snapshot, moving back to level 1.

1 Like
4

Thank you Glenn! Updated the Snapshot voting date to next Sunday.

2 Likes
5

Will the ENS team be interested in putting some funds from their treasury to the pool?

I mean they might as well get yield on their ENS.

3 Likes
6

I am with @eldude on this one.

It would be nice to build this up. Treasury deposits are win-win imo.

2 Likes
7

ENS is a project that is very much controlled by a DAO (not just in name only) and we would have to make the case to the ENS community that staking a portion of the treasury on Bancor is beneficial. With that said, I think the trading liquidity for this pool will most likely fill up quickly just like when we onboarded it originally and I think the same will occur once this is raised. I think we should go a lot higher on the co-investment but we can wait and see what happens with the TKN side capacity before growing it more.

2 Likes