This proposal is expected to appear on Snapshot for voting on 2022-04-30T23:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
For this proposal to pass, it requires a 35% quorum and 66.7% supermajority.
TL;DR
- The FODL liquidity balance is currently full.
- The FODL liquidity on other decentralized exchanges justifies proposing an increase.
- Increasing the pool’s liquidity will improve price impact and help direct more volume to Bancor.
- This proposal seeks to increase the trading liquidity limit in the pool from 500k BNT to 800k BNT.
Abstract
There are currently ~493k BNT and ~6.94m $FODL tokens in the BNT-FODL pool. This has resulted in a pool that has roughly ~2.1m in liquidity. This proposal seeks to increase the $FODL pool’s single-sided capacity by increasing the trading liquidity limit to 800K $BNT .
Rationale
The FODL pools with deepest liquidity in Ethereum DEXes are:
The FODL/USDC 0.3% SushiSwap pool with $5,229,680.09 liquidity, and $103,555.89 daily volume [1].
The FODL/WETH 0.3% SushiSwap pool with $4,387,297.68 liquidity, and $88,149.61 daily volume [2].
The FODL 0.2% Bancor pool with $2,123,999.38 liquidity, and $41,587 daily volume [3].
The extra liquidity would bring the total pool liquidity to at least ~$2.8m, if the space in the pool is filled.
FOR
Increase trading liquidity in the FODL pool from 500k BNT to 800k BNT.
AGAINST
Keep the trading liquidity in the FODL pool at 500k BNT.
[1] FODL-USDC | SushiSwap Analytics
[2] FODL-WETH | SushiSwap Analytics
[3] Bancor: Converter 726 | Address 0x043CA1F3Aa6939041e57d6Eb7811Cf5C6e56827E | Etherscan