This proposal is up for vote on Snapshot: GO VOTE
This is a proposal for the DAO to add liquidity to the SSV-ETH Uniswap v3 Liquidity pool on mainnet.
The current slippage on Uniswap is very high due to the lack of liquidity. As such, it is of utmost importance to deepen the liquidity for the SSV-ETH trading pair.
A Uniswap v3 pool has already been initialized by the SSV community and as Uniswap is also aligned with the core SSV values this should be the chosen DEX to start.
Uniswap V3 SSV-ETH liquidity pool shall be funded on Ethereum Mainnet by the multisig committee and will not be actively managed as “Full Range” shall be chosen (0 to infinity price range).
SSV DAO shall supply $500k of SSV and $500k of ETH according to CMC on day of liquidity pool funding.
0.3% fee tier shall be used.
The resulting LP Token shall be held by the DAO and any and all rewards belong to the DAO.
Ensure DAO has $500k worth of SSV and $500k worth of ETH.
Open “APPS” in Gnosis Safe
Choose WalletConnect app
In a separate browser tab, go to https://app.uniswap.org/
Click “Connect Wallet” and choose WalletConnect
Click on “Copy to clipboard” below the QR code.
Go back to WalletConnect in Gnosis Safe and paste the copied data
The Connection to Uniswap V3 has now been established.
Go Back to Uniswap and select “Pool”
Click “+ New Position”
Under “Select Pair” choose SSV and ETH. If SSV is not already Imported search SSV and click “Import”. Click “Import” again.
Under “Deposit Amounts” input 500k$ worth of ETH. Equivalent SSV will automatically fill.
Ensure 0.3% fee tier is chosen
Click “Full Range” and Click “I understand”
Click “Approve SSV”
Go back to Gnosis Safe and Complete the transaction, wait for the transaction to complete
Go back to Uniswap, and click “Preview”
Go back to Gnosis Safe and Complete the final transaction
I intend to submit this proposal for voting on snapshot Oct 29, 10AM UTC