Proposal to increase the trading liquidity limit in the MFG pool from 50k BNT to 100k 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 2022-03-26T23:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
TL;DR
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The MFG pool has recently been whitelisted.
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The MFG liquidity on other decentralised exchanges justifies proposing an increase.
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Increasing the pool’s liquidity will improve price impact and help direct more volume to Bancor.
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This proposal seeks to increase the trading liquidity limit in the pool from 50k BNT to 100k BNT.
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Smart MFG will fill any remaining liquidity balance with their treasury as needed.
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Smart MFG will incentivise the MFG pool on Bancor 3 with liquidity mining rewards.
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We will also redirect or inform/promote this new LM campaign on our dashboard at https://rewards.smartmfg.io/. Current Uni v3 campaign is ending at the end of this month.
Rationale
The Deepest MFG pools are:
The MFG/ETH 1% Uniswap v3 pool with $813.55k liquidity, and $53.71k daily volume [1].
The MFG 0.3% Bancor v2.1 pool with $236,955 liquidity, and $7,569 daily volume [2].
The MFG/USDC 1% Uniswap v3 pool with $148.03k liquidity, and $0 daily volume [3].
The MFG/DAI 1% Uniswap v3 pool with $82.82k liquidity, and $0 daily volume [4].
The MFG/ETH KyberSwap pool with $227.853 liquidity, and $0 daily volume [5].
The extra liquidity would bring the total pool liquidity to at least ~$483,955, if the space in the pool is filled. If this happens, a proposal to increase the trading liquidity limit again should be considered.
FOR
Increase trading liquidity in the MFG pool from 50k BNT to 100k BNT.
AGAINST
Keep the trading liquidity in the MFG pool at 50k BNT.
[1] Uniswap Info
[2] Uniswap Info
[3] Uniswap Info
[4] Bancor: Converter 638 | Address 0x349419BcE4181d7D223442Fa48Ba9e611173A745 | Etherscan
