osmosis

Prop 639: Mutual token swap between Osmosis and MantaDAO

  • This is a joint proposal prepared by representatives of the Osmosis Community (RoboMcGobo 2, Johnny Wyles 1) and MantaDAO (Pragmatic Monkey, Vladimir GG, PostTenebras 2)
  • We are proposing a $50k OSMO<>MNTA token swap between our two Communities.
  • MantaDAO will match the received OSMO with another $50k of MNTA in a BOW LP (the AMM built on top of FIN, Kujira’s orderbook DEX).
  • Osmosis Community Pool will match the received MNTA with another $50k of OSMO in a +/- 5x position in the Supercharged pool on Osmosis, with the option to re-evaluate this when vaults are available.
  • This will result in $200k of OSMO/MNTA liquidity that will make the two tokens tradable with limited price impact against a wide variety of assets on both Osmosis and Kujira thanks to Osmosis and MantaSwap’s multihop routers.
  • Half of the LP ($100k on Osmosis) will be owned by Osmosis Community Pool; the other half ($100k on BOW) will be owned by MantaDAO.
  • This will sustainably deepen liquidity for OSMO on Kujira in the form of Protocol-Owned Liquidity without the need for any incentives.
  • This will enable the Osmosis Community to diversify its treasury and generate a source of income in the form of trading profits from market-making activities.
  • This will open up additional arbitrage routes between Osmosis and FIN, resulting in a net increase in trading volumes on both sides.
  • This will build a bridge between the Osmosis and Kujira communities, promoting net positive-sum cooperation across the Cosmos.

The recipient address (osmo1rfcf70z0052zsjp9kz9zgal93exljj3fgka75wve0e3sazq724mqv2vqdm) is the multisig address controlled by the members from the Osmosis community:

RoboMcGobo (https://twitter.com/RoboMcGobo 2)

Luisqa (https://twitter.com/luisqagt)

Golden Ratio Staking (https://twitter.com/GoldenStaking)

The requested amount of OSMO and MNTA for exchanging and matching is calculated on a 10d TWAP basis: https://docs.google.com/spreadsheets/u/2/d/1u5lbIR9_Vl52munAtjg8S0j3_0v_KqLzOZKhy0pMSjY/edit?pli=1#gid=0

The full text of the proposal and discussion: https://forum.osmosis.zone/t/mutual-token-swap-between-osmosis-and-mantadao/343