Proposal: Increase the trading liquidity limit in the SHEESHA pool from 50K BNT to 250K BNT

DAO Archive (SUBMITTED)
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Proposal to increase the trading liquidity limit in the SHEESHA pool from 50,000 BNT to 250,000 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 2022-02-06T00:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

TL;DR

  • The pool is currently full.
  • This proposal seeks to increase the trading liquidity limit in the SHEESHA pool from 50,000 BNT to 250,000 BNT.
  • The extra space would allow for an extra 4,200 SHEESHA (~$502k) to be staked single-sided, with BNT at $2.51 and SHEESHA at $119.53.

Rationale

DEX liquidity on Ethereum

The SHEESHA pools with deepest liquidity in Ethereum DEXes are:

  • The SHEESHA/ETH pool on Uniswap v2 with $4,009,181 liquidity, and an extrapolated APY from the fees accrued in the past 24 hours of 8.59% [1].
  • The SHEESHA 0.2% pool on Bancor with $270,061 liquidity, and an extrapolated APY from the fees accrued in the past 24 hours of 1.03% [2].

The extra space would allow for an extra 4,200 SHEESHA (~$502k) to be staked single-sided, with BNT at $2.51 and SHEESHA at $119.53.

FOR

Increase trading liquidity in the SHEESHA pool from 50k BNT to 250k BNT.

AGAINST

Keep the trading liquidity in the SHEESHA pool at 50k BNT.

[1] Uniswap Info
[2] Bancor: Converter 718 | 0xB521525b2E6Ad8Ef4c03E747B4541F366E5b8035

2 Likes
2

Will the Sheesha team be staking from their treasury?

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3

Hey @eldude Thank you for the question. We are using our sheesha tokens from our Treasury to add to the LP. Feel free to ask any more questions.

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