Bridge Liquidity from Fantom to Avalanche

Proposal Submitted: Snapshot

Details

This proposal is rather straightforward, but, as always, please feel free to discuss and request clarification on any aspect.

Description & Rationale

The rationale for creating this proposal is to ensure a smooth transition onto the Avalanche blockchain network as we onboard 40% of our emissions.

Given the value of first impressions and the need for support at the beginning stages where liquidity is expected to be at its lowest, we ought to determine, as a community, exactly how much we find to be reasonable in terms of the total assets we should move over to help support ordinary trades.

Explanation (from Proposal)

Please review the associated link to discuss, then select one of the provided options to signal your support.

The options are for the share of the total liquidity (in USD) held in the DAO at the time of the snapshot (as determined by DeBank) to be converted into liquidity on Avalanche.

Current DAO-owned liquidity value: $112,505

The spread of the liquidity will be as similar to the existing spread on Fantom as reasonably possible (with some exceptions), for example, SOUL-FTM will be replaced by SOUL-AVAX, but spread roughly proportionate to the DAO’s current allocation.


Voting takes place here: Snapshot

2 Likes

Should we move that liquidity all at once to Avalanche? Or should we do an unlock week by week/ bi weekly until we hit our total DAO-owned liquidity?

I don’t see a point in taking all of the DAO funds over to Avax chain all at once unless it is a calculated move. Maybe $10,000 a week/ bi-weekly right now to go over to Avax while we are creating our own path and we can always bridge over more if needed.

Open to any suggestions/criticism.

Friendly Soul,
Colton Groves

1 Like

I’m also confused. Are we seriously planning to take 90% of our liquidity over to AVAX? Are we effectively abandoning FTM at this point? I didn’t realize that was the plan but this seems like a huge move beyond the implications of allocating some of our rewards to AVAX.