PASSED: Bright DAO shared liquidity proposal

Summary:
$100k token swap with Bright DAO and Giveth treasury, in order to deposit $200k BRIGHT<>GIV LP on Honeyswap.

Proposal Description:
Giveth and Bright DAO have both expressed interest in splitting DAO-owned liquidity for BRIGHT<>GIV on Honeyswap, funded from each DAO’s Treasury. We’ll complete the following in order to execute the treasury swap:

  • Giveth requests $100k in GIV, simultaneously requesting $100k in BRIGHT from Bright DAO.
  • On passing, tokens will be sent to a shared 4 of 6 multisig with 3 Giveth members and 3 Bright DAO members.
  • Tokens will be added to the BRIGHT<>GIV shared liquidity pool on Honeyswap

Proposal Rationale:
Giveth and Bright DAO have a strong connection and aligned interests for the future of Web3. Sharing liquidity brings synergy to both projects:

  • DAO-owned liquidity is a good long-term token liquidity solution vs. renting liquidity with rewards.
  • Strengthens the friendship between Bright DAO and Giveth - both communities are incentivized to act in each other’s interest.
  • Shared liquidity acts as treasury diversification for both DAOs.

Expected delivery date:
Upon each proposal passing, the multisig will aim to have liquidity added to Honeyswap within a week.

Team Information:
Contacts: @hotl.eth @Griff
Multi-Sig: Need volunteers!!

  • Yes, allocate 100k for a treasury swap LP with Bright DAO
  • No, do not allocate 100k for a treasury swap with Bright DAO

0 voters

9 Likes

Love BrightID and love the idea of a GIV/BRIGHT tokenswap and joint LP! I think this is a great model, and hope BrightID is the first of many D2D partnerships.

I’m in support of this and happy to throw my hat in as a signer :slight_smile:

6 Likes

Awesome proposal! I love BrightID and think DAO-owned BRIGHT/GIV liquidity is a win for the blockchain4good ecosystem.

Where is the GIV going to be requested though? The GIVgarden? or the rGIV DAO?

Also, I’m happy to volunteer to be on that multisig.

6 Likes

Still getting up to speed, I may need some guidance to understand the difference between the two.

From what I have read, rGIV is the DAO, which would then result in DAO owned LP?
GIVgarden is part of the ecosystem as a whole and pays out GIV for donators/GIV streamers?

So, if it were part of the DAO, it could help pay for salaries and things of that nature?
If is were part of the garden, it could help subsidize the farm incentives?

Please correct me if I am off, and feel free to add some context!

4 Likes

rGIV is the Giveth reputation DAO where nrGIV token holders can control a treasury of GIV tokens. 8% of GIV tokens are in the rGIV DAO . You need to be an active contributor for at least 3 months to become eligible to get nrGIV tokens, and in order to get nrGIV tokens, nrGIV token holders need to vote to mint them for you! rGIV will be used to pay team salaries, and other things.

The GIVgarden is the exit-to-community. 33% of GIV tokens are in the GIVgarden “Common Pool” (treasury). In the GIVgarden, anyone who holds GIV can make or vote on funding proposals with conviction voting, and can vote on “decision votes” with Tao voting.

I think either way it would be a DAO-owned LP :thinking:

3 Likes

Got it! Both options seem reasonable to me. Should we put it to a community vote for where shared liquidity comes from?

And yes agreed - both are DAO-owned liquidity, now that I think about it. The rGIV seems like the “active contributor” owned liquidity, vs the DAO as a whole.

Is rGIV be unwrapped at a 1:1 with GIV?

1 Like

rGIV (nrGIV) is not the same thing as gGIV (gardens wrapped GIV) or GIV - it has no value - you can read more here - Governance Process

4 Likes

Yeah I think that the GIV should come from the GIVgarden Common Pool. We can request the funds w Conviction Voting :slight_smile:

4 Likes

I agree, GIVgarden should fund all our Token Swaps :smiley:

Also it looks like Willy, Lauren and Mitch as signers on our side! That looks good to me!

4 Likes

Hey everyone! I went ahead and made a post on BrightDAO forum as well: Giveth<>BrightDAO shared liquidity proposal - Proposals - BrightID

6 Likes

Amazing work y’all, I love starting with BrightID for this.
Agree with GIVgarden and Conviction Voting - you’ve got my support :+1:

2 Likes

Yep! And we reached the 5 day advice process… so just waiting to get the addresses for the multisig from brightDAO :smiley:

1 Like

I love it!! I can vote with BRIGHT and GIV, are the proposals live?

Not yet!

Just making the multisig now!

For full transparency, here are the holders

3 Likes

Happy to join the multisig :slight_smile:

1 Like

VOTE IS UP!

https://gardens.1hive.org/#/xdai/garden/0xb25f0ee2d26461e2b5b3d3ddafe197a0da677b98/proposal/7

You can check here to see the Owners of the recipient Multisig.

https://gnosis-safe.io/app/xdai:0x748A44ddeDfE62D031658Bbe4FdDB6e1CdeF3Bdb/settings/owners

3 Likes

I really love the idea of a GIV/BRIGHT tokenswap and joint LP! hope BrightID is the first of many D2D partnerships.

I’m in support of this and if you need some new stewards or spanish translators I am available to assist in case of some translation work :slight_smile:

2 Likes