Proposal: Increase the trading liquidity limit in the THALES-BNT pool to 200k

DAO Archive (SUBMITTED)
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This proposal is expected to appear on Snapshot for voting on 2022-05-29T15:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

Increase the trading liquidity limit in the THALES pool from 100k BNT to 200k BNT

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

TL;DR

  • THALES is already whitelisted for 100k BNT

  • That pool was filled by Thales DAO as soon as the proposal has passed

  • Thales governance already expressed willingness to fill the THALES side with the doubled limit

  • I am proposing to double the liquidity limit as there is no capacity remaining:

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  • 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 100k BNT to 200k BNT.
  • THALES’s DAO will fill ANY remaining liquidity balance with their treasury up to 200k BNT. If more space becomes available, another proposal will be made to THALES’s governance to approve filling any remaining liquidity.

Rationale

The deepest THALES pools are:

The THALES/WETH 0.3% Uniswap V3 Pool on Optimism with ~$711K liquidity and $55k Daily volume [1]

A trading liquidity limit of 200k BNT opens up space for an additional 100k BNT of capacity and roughly $130k of single-sided staking capacity with BNT at $1.30. If the pool is filled completely it will be roughly $520k in depth (with BNT at $1.30) and a proposal to increase the trading liquidity limit will be considered then.

THALES token address: 0x8947da500eb47f82df21143d0c01a29862a8c3c5

Project Website: https://thalesmarket.io/

All other details are applicable as in the original whitelisting proposal

3 Likes
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Wait, this is not to white list, this is to increase the trading liquidity, right?

2 Likes
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yes, this is to double the liquidity limit on already whitelisted token. Might have gotten the category wrong, which one should I choose?

4 Likes
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It should be the regular L1 drafting category and I already moved it there. :+1:

The increase in trading liquidity is to allow a treasury deposit which tends to be long-term Bancor stakers as DAOs want to have the liquidity to support healthy markets for their tokens. Looks good from my end as treasury deposits align with Bancor being the preferred solution for DAOs.

3 Likes