Proposal Information
tldr:
Mutually beneficial token swap to create a 1M USD equivalent shared liquidity pool of $500k GIV <> $500k GNO on Honeyswap (Gnosis Chain).
Proposal description:
I propose Giveth to use 500,000 DAI worth of GIV tokens from the Giveth Liquidity Safe (liquidity.giv.eth) to create a liquidity position on Honeyswap with 500,000 DAI worth of GNO tokens (LP to be eventually migrated to UniV3 when UniV3 will be deployed to Gnosis Chain, if both GIV and GNO communities approve)
Proposal Rationale
Gnosis DAO is one of the most important DAO in the web3 ecosystem, with a treasury around 500 millions.
Gnosis token is the governance token of Gnosis DAO, and the governance token of Gnosis Chain.
Giveth is one of the most important projects on Gnosis Chain, and a token swap can help the two communities tighten their relationships and grow together.
Funding Information
Amount of GIV requested: 550,000 DAI worth of GIV tokens, at current market price equivalent to 2,120,000 GIV.
Ethereum address where funds shall be transferred: Karpatkey Gnosis Safe 3 on Gnosis Chain.
More detailed description of how funds will be handled and used:
- GnosisDAO will send $550k worth of GNO to the Karpatkey Gnosis Safe 3 on Gnosis Chain.
- Giveth will send $550k worth of GIV from the Giveth Liquidity Safe (liquidity.giv.eth) to the Karpatkey Gnosis Safe on Gnosis Chain.
- Karpatkey will deposit a total of $1M worth of liquidity into a GNO:GIV pool on Honeyswap (1Hive) on Gnosis Chain.
- Karpatkey will send half of the resulting LP tokens to the Gnosis DAO treasury and half of the LP tokens to the Giveth Liquidity Safe (liquidity.giv.eth)
- Karpatkey will return the remaining GNO tokens to the GnosisDAO’s treasury and the remaining GIV tokens to the Giveth Liquidity Safe (liquidity.giv.eth).
Karpatkey is a DAO treasury management organization that is managing Gnosis DAO treasury, as approved in this governance proposal on Gnosis forum.
Karpatkey DAO is not a custodian of funds.
