Proposal: Market-Maker change of terms

[pahuyswap]

Summary

A heated discussion was started yesterday on the PowerPool discord server. A user called smph found a very important term in the Falcon X proposal:

The loan will be returned in 1 year, in March 2022 in CVP tokens or in DAI/USDT/USDC equivalent based on the price at the moment of transferring 2m CVP to FalconX.

Specifications

As @vasilysumanov commented on Discord, the payment hasn’t been made yet. I believe we need to change the contract.

At the same time, @Sergey raised a valid point that FalconX is more known as a great OTC broker, but not Market-Maker, so maybe we need to consider changing the MM altogether.

[vasilysumanov]

I support this proposal, but, are there any other candidates for MM?

[DrGonzo]

I support this move, we definitely need to either change terms or change the MM. Plz share MMs you know who can be a good candidate for PowerPool.

[vasilysumanov]

Here is a new proposal from Wintermute. Terms are much more attractive than FalconX offered:

Proposal: Market Making Proposal from Wintermute Trading

Summary/Abstract: This proposal is published for presenting the terms of $CVP market-making services to the PowerPool community and approving it: Authorize Wintermute Trading as official $CVP market-maker Transfer 1.5% of CVP supply (1.5 million $CVP) to the Community treasury for market-making purposes as a loan to the Wintermute Trading. Wintermute Trading will have to return either the full loan amount in $CVP or 6 million USDC (~50% premium to current price) in 1 year Wintermute basic ba…

[pahuyswap]

we need to issue a proposal to cancel the FalconX partnership if Wintermute’s proposal is accepted. Not only the terms are better, but the MM itself is better

[richard]

See here: Proposal 26: Invalidate outcome of "FALCONX MARKET-MAKING PROPOSAL v2" proposal

[pahuyswap]

Thanks man, shared my thoughts in your thread.