SW DAO Seeks Community Input on Balancer & Bonds Proposal
The polls open on May 24 at 00:00 UTC 🗳️
SW DAO has opened the floor for community discussion on SWIP-07, with voting to begin on May 24th at 00:00 UTC.
We invite our community members to provide feedback on this proposal by commenting in our #swip-7 channel on Discord. Your input is invaluable as we work together to build a better decentralized future!
SWIP-07 Summary
This SW Improvement Proposal aims to create a Balancer Pool for SWD token liquidity, establish which assets will be included in said pool, and permit the issuance of Bonds via previously allocated Liquidity Mining tokens.
Do you approve of the following changes to SW DAO?
Regarding Balancer Pool creation:
- All existing SWD liquidity, ~$46,000 at the time of publication, will be moved from Sushiswap, Uniswap, and Quickswap to Balancer.
- The Balancer pool will include the assets SW DAO token, SW Yield Fund, Quantum Momentum ETH, and USDC.
Regarding the makeup of the Balancer Pool:
- The initial makeup of the balancer pool priced against SWD will be 40% USDC, 30% SWYF, and 30% QME.
- Category weights are set by the Governance Community, and individual token weights are to be set by the Founding Team.
- 60% of the Balancer Pool will be SW DAO’s products, and 40% will be currency.
Regarding the use of Liquidity Mining funds for Bond issuance:
- The previously allocated 6% of the total supply for Liquidity Mining will be assigned to Balancer Pool Bond issuance.
- The term for the Bonds issued will be 24-months with interest linearly unlocked.
- The Bond interest rate will be a maximum of 40%, with the initial rate set by the Founding Team and changed based on market demand.
All changes outlined above will be approved or denied in a single vote. Governance participants will select one of the following two options:
- Yes
- No
Voting Period
SWIP-07 voting will be open Tuesday, May 24th at 00:00 UTC until Friday, May 27th at 00:00 UTC. Voting will occur via our Snapshot page at vote.swdao.org.
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