GIV token swap with q/acc subteam - $100K USD total, $50k First

[Griff]

This proposal is to swap 100K USD worth of GIV tokens for 100K USD worth of MATIC.

The MATIC will be used to create GIV-MATIC LPs on Polygon zkEVM. Creating GIV liquidity is a critical prerequisite to migrating the GIVeconomy to Polygon zkEVM and generally positive for us overall.

For context, Polygon is sending $400k in MATIC to the q/acc subteam in 4 - $100k milestones and
the q/acc subteam is basically Justice, Tam, Ivy and Griff. $100k of the $400k is earmarked for this token swap! The best way to do this for q/acc is to do the swap in multiple batches, the first one will be 50K USD worth.

Because of the time delay to get this token swap through our governance process, I think it is fair to lock in the exchange rate, as soon we hope to announce this partnership to the world and it might have an impact on the GIV token price.

This first swap would be: 4,195,686 GIV for 72,312 MATIC (From Coingecko on May 8th, 1:20PM NYC time)

The next batches will happen within the next few months at the market rate determined at the time of swap as we did for previous token swaps.

Should we move forward with this token swap?

• Yes
• No
• Abstain

[mitch]

Can we make the LP on mainnet to start right away?

Then we can move the LP position when GIV is ready for polygon zkEVM.

[0xLaszlo]

I believe that the particle network is solving the issue of xy liquidity pools on all chains very soon, which will make adoption much easier for a lot of projects, as well as their main account solution and to pay gas fees with one token on every chain, I am pretty much on every bigger chain and try to be an early supporter for what I believe in, I hope it will be enough to have one liquidity pool for all chains, I believe this is the only real way for real multichain future…but I know so little

[karmaticacid]

Just an update here!

The 4,195,686 GIV from this proposal was sent to the q/acc multisig on OP Mainnet.

The 72,312 MATIC was send from q/acc to Giveth and a GIV/MATIC LP was made on Ethereum Mainnet, Uniswap V3

We’ll follow up with updates when the 2nd part of this proposal is realized, with the second $50k swap!