Following the recent approval of MPIP-9 and considering the constructive feedback from the mpDAO Community, I am outlining this post to ensure a clear and effective implementation of MPIP-9. It’s evident that while MPIP-9 secured approval, it did so without fully addressing certain key definitions. Despite this, the proposal received a FOR vote during the MPIP voting process, supported by the community.
To address the ongoing discussions and finalize the details of the implementation, here’s a comprehensive plan:
Key Points for Consideration:
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Discounted Pricing: Analysis of offering a discounted price for mpDAO participants.
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Cross-Chain Bridge: Discussion on bridging the Native mpDAO token from Ethereum to NEAR Protocol.
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Liquidity Provision: Buyback mechanism to ensure liquidity after the initial two months of seeding the pool.
Swap Pool Technical Details:
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Decentralized Exchange: Ref.finance
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Network: NEAR Protocol
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Token Pair:
Token A: Native mpDAO
Token B: stNEAR
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Swap Pool Fee: 0.3%
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Farming option: Not provided
Liquidity Source:
Liquidity Source: On September 10th, 2024, the pool will be created, and liquidity will be provided as follows:
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stNEAR Contribution: 50% of the liquidity will be provided in stNEAR, sourced from the protocol fees generated by Meta Pool. A total of 10,000 stNEAR will be allocated to this pool. These funds will be borrowed from the mpDAO treasury and will be reimbursed by allocating up to 10% of the mpDAO protocol fees each month, starting on October 3rd.
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mpDAO Tokens Contribution: 50% of the liquidity will be provided in mpDAO tokens, sourced from the mpDAO community treasury. The allocation will be based on the mpDAO reference price from the Uniswap Pool to match the amount of stNEAR provided.
Liquidity Lock and Buyback:
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The provided liquidity will be locked for 12 months.
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No buyback will be executed during this period related to the implementation of MPIP-9.
Further discussion on the specifics will continue here to ensure all aspects of the implementation are well-defined and agreed upon by the community.