OSMO/WYND Token Swap for Protocol Liquidity
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Description
This proposal requests a spend of 52,000 OSMO from the Osmosis Community Pool to establish Protocol Liquidity of WYND/OSMO within both community pools.
Details
This proposal is the mirror of the proposal on WYND DAO to request 170,000 WYND. If only one proposal passes then the community spend shall be returned to the corresponding community pool.
If both proposals pass, 26,000 OSMO would be directly swapped for 85,000 WYND from WYND DAO. This is an approximate value of $25,000 of each token.
These funds will be managed by a 2/3 multisig composed of:
- Claimens (CryptoCrew Validator)
- Jasbanza (Osmosis Support Lab)
- Luisqa (Zenith Station Validator)
Each will then add liquidity to the pools on their respective exchanges.
The pools with protocol-owned liquidity will be:
This liquidity will NOT be bonded on either DEX and so will not impact incentives to Liquidity Providers who are bonded.
Any excess tokens that are unable to be provided as liquidity due to a price ratio change between this proposal going on-chain and liquidity being added will be returned to the original owner.
For Osmosis, the GAMM tokens representing this liquidity shall be returned to the Osmosis Community Pool, these may not be sold or deconstructed for a minimum of 1 year, and a governance proposal will be required to remove or modify the LP position in any way.
For WYND, this liquidity shall not be sold or removed from the liquidity pool for a minimum of 1 year and is owned by the WYND DAO, and a governance proposal will be required to remove or modify the LP position in any way.
In total, if passed, liquidity will be provided evenly across the WYND/OSMO pair on both Osmosis and WYND DEX for a minimum of 1 year.
About WYND
WYND DAO is an innovative, multi-protocol DAO that harvests the best of DeFi to fund positive real-world environmental impact. WYND DAO will deploy multichain DeFi protocols by using advanced CosmWasm contracts. Twenty-five percent of the fees generated with these protocols will go to an Environmental DAO investing in projects spearheading actions to improve the environment. Delegating WYND tokens will give you a voice in the future of this unique Cosmos project. Osmosis Stakers were among those able to claim the airdrop before the WYND DAO launch and so there is significant crossover between WYND and Osmosis community members. Website: https://www.wynddao.com
Commonwealth Thread: https://commonwealth.im/osmosis/discussion/9620-osmowynd-token-swap-for-protocol-liquidity
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