Proposal 24: Market Making Proposal
A couple of weeks back we’ve been introduced to the institutional-grade market maker. After several rounds of negotiation we present this proposal for further discussion. Now you can ask all the questions you have here, we will launch an official proposal in ~48 hours.
This proposal is published for presenting the terms of $CVP market-making services to the PowerPool community and approving it:
- Authorize FalconX as official $CVP market-maker.
- Transfer 2% of CVP supply (2 millions CVP) to the Community treasury for market-making purposes as a loan to the FalconX. FalconX will have to get it back in 1 year (Feb 26 2022).
- You can read more about FalconX on their website (https://falconx.io) and in the company blog (https://blog.falconx.io).
We would like to request the PowerPool community to pass a proposal to approve the transfer of up to 2% of the total token supply of $CVP by the PowerPool community to for Market Making services of $CVP on reputed centralized exchanges. To enable this, we would like to authorize and engage a third party agent to effectuate the market making.
We propose to PowerPool Community appointing a third party agent (FalconX) to act as the PowerPool Community Agent to market-make $CVP through its trading counterparties.
To facilitate the work of the Community Agent on the community’s behalf, we propose to authorize following actions to take operational actions required to effectuate the market making, including release of up to 2M $CVP to the Community Agent from the PowerPool Token Supply for liquidity provisioning.
The initial proposal specified that no tokens will be released until final terms are approved by the community. The Community Agent agrees to satisfy all the KPIs required by the tier-1 exchanges we list on.
A Yes vote for this proposal would accomplish the following:
- Approval of the above terms to enable the Community Agent to proceed with creating and transferring 2% of the total $CVP token supply from the community token allocation, where the proceeds will be directed towards market making.
- The loan will be returned in 1 year, in Feb 2022 in tokens or in DAI/USDT/USDC equivalent.
A No vote would result in rejection of these terms.