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Prop 174: Proposal to Create New USDC.grv/USDT.grv Stableswap LP on Crescent DEX and add external incentives

Why? A stable place to park funds and avoid impermanent loss while earning swap fees and incentives.

What? Proposing that Gravity Bridge community approve the creation of a new USDC.grv/USDT.grv LP on Crescent DEX as discussed in Commonwealth Forum Post

How? Crescent team will create new pool and incentivize it using the 4,000,000 Gravitons (4M GRAV) that were sent to Crescent team controlled multisig gravity1nhwag4qqrw6z56tcl9vt64jue9cywur9ljhspt for incentivizing the SHIB.grv/bCRE LP as per Prop 157, however the SHIB.grv/bCRE LP is not moving forward so the funds need a different allocation.

The incentives will be paid out to liquidity providers over 90 days (44,444 GRAV per day).

Voting

  • In voting YES for this proposal you approve that GB community request the Crescent DEX team to create a USDC.grv/USDT.grv pool and allocate the incentives that were sent for the SHIB.grv/bCRE LP to the new USDC.grv/USDT.grv LP at Crescent DEX.

  • Voting NO on this proposal signals that you disagree with the creation of a new USDC.grv/USDT.grv LP and its incentivization.

Author αlphaβiota | LOA Labs