Proposal overview - CDT is listed in Binance.com where most of the CDT holdings outside of Blox are concentrated. Blox should apply to Binance in order to facilitate token swap in the exchange. Following the swap, Binance should start to natively support SSV token instead of CDT.
Motivation - A native token swap in Binance will allow all CDT holders to swap directly in the exchange. Many of the current CDT holders are reluctant or do not know how to interact with a smart contract swap. Swap support from a large exchange which holds a large portion of CDT supply will make it easier for CDT holders to swap to SSV without interacting with the dedicated smart contract.
In case SSV is voted as SSV.network’s native token, Binance should replace CDT with SSV in their platform. Offering non CDT/SSV holders a way to obtain SSV tokens to participate in DAO decisions is important for promoting DAO growth and inclusion.
Mechanics - Blox team should apply to Binance and undergo a swap due diligence process. If required, the DAO will deposit SSV tokens in Binance to assist with the swap. If any additional resources are required for the swap outside of SSV deposit and DD, additional proposals will be submitted to the DAO’s review accordingly.
Application to Binance should be submitted when/if CDT->SSV upgrade proposal is approved. The community should be updated constantly throughout the process.
Links