Funding proposal: invest in WXG/WAVES megapool

WavesDAO Funding Proposals
1

Dear Waves DAO Governors,

Issues:

  • Buying back WXG with WX matcher fees only, takes too long.
  • WXG price and liquidity are low.
  • WX, Waves struggles to get out of the situation, because of ongoing issues, which is a drag on Waves ecosystem growth.
  • Currently Waves needs to send project updates to Binance atleast once a month, which includes: WXG progress, TVL, onchain txs, users, product development, upcoming events, partnerships.

Proposal: edited: from WX AMM to megapool
Invest 20k WAVES: 80% in 5 WXG assets, 20% in WAVES.
(Waves DAO has about 25k free WAVES available in wallet. I used Bai tool to calculate available WAVES minus available to claim WAVES)

All assets provide liquidity in the following megapool: WXG/WAVES

Benefits Waves DAO:

  • 30x potential.
  • Waves DAO recently has become main investor of WX DAO.
  • WX fees backed investment.
  • Earn AMM trading fees.
  • Earn pool owner fees, I made Waves DAO the owner, which receives 10% of pool fees, see txs.

Benefits ecosystem:

  • Increases WXG liquidity and price.
  • Increases WX buyback.
  • Resolving WXG issue and improving other parts, could result in removing Binance monitoring tag, which influences WAVES price.
  • Most protocols including Waves DAO would benefit of a higher WAVES price.

Execution: edited
By me, split in 3 proposals, after every proposal LP tokens are send to Waves DAO within a week:

  1. 2k WAVES
  2. Lease 23k WAVES to Puzzle Node
  3. Delegate lease to 3PBbLJcBjLWUZZrFFUk5s53TdTUneHXDc7e

Disclaimer: I have WXG assets, WX tokens

Best regards,
Ivan

2 Likes
2

Hi Ivan!

I appreciate the idea and its long-term value for the ecosystem. Would support it.

However I would suggest to create a megapool with all WXG assets and WAVES, and use it to provide liquidity.

Reasons:

  • more buyback power (5/6 of waves are used to buy WXG for an even megapool instead of 1/2 if you go for WX pools)
  • more fees APY
  • no WX inflation dilution among pools

Disclaimer: I am Puzzle founder:) Would support the pool creation!

Best,
Vlad

4 Likes
3

Hey Ivan,

Doesn’t vesting for WX DAO involve the buyback of WXG tokens?

“0.5 Waves per block from the Waves DAO flow to WXDAO Bitcoin Exchange | Cryptocurrency Exchange | Trading Platform | Waves. WXDAO is built in such a way that its treasury should grow with the buyback of WXG tokens and an increase in the WX token price”

If they are doing this, it means there needs to be a proposal within WX DAO to adjust the idea better, rather than having WavesDAO participate in a duplicated idea.

Disclaimer: I am WFN - G and this is my 2 cents of feedback.

Best,
WFN

3 Likes
4

I like the idea a lot, thanks for your input. Buyback of WXG will be much more indeed.

We will lose this benefit:
Increases WX income, which increases the buyback & burn by WX, which benefits our investments in the WX pools and WX DAO.

Disclaimer: PUZZLE, Eagle + Ania’s NFTs staker :slight_smile:

3 Likes
5

So far as I can via the block explorer WAVES from vesting go to the Waves team in exchange for WXDAO tokens.

6

Then - We would like to see an explanation from WX DAO side of what is happening

7

I support the idea of Vlad for a Mega pool.

1 Like
8

Received 2k WAVES: PWRDAO

$4,554 LP token of megapool WXG/WAVES sent to Waves DAO: Transaction GYa8v8nKQ4JUTNU6D9x4A1NYNeqsCaZYTg3QGwYKsvJZ | 03.05.2024, 07:12:52

Waves DAO is receiving regular pool owner fees: Waves Explorer & Portfolio Overview | wscan.io
It’s not much, as to be expected for a low trading volume assets.
The main play is the increased value of the assets.

A bit more then $100 still to be sent soon.

Remarks:

  • Not the easiest assets to buy from the market, especially LTC and USDC.
  • There is demand for liquidity to sell WXG tokens.

Follow up proposal will be for less WAVES and slower.
We want the WX buyback to be bigger then our investment.

1 Like
9

Leasing unfortunately not available.
It’s not profitable to buy more then WX buyback. Better to wait until leasing is available, WX increases the buyback amount or for time to pass.

I sent the remaining tokens, about $100:

1 Like
10
total $ received WAVES
$4,500 1957
profit in $ profit in WAVES
-$247 61

*Pool owner rewards of 10% of each trade, not counted

Overview of WXG and DAO P&L:

1 Like