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We want to maintain liquidity in the sushiswap INV/ETH pair. The rationale for this initiative is to have a sustainable liquidity pool for the xINV oracle.
In light of the above we want to trial auctioning off treasury held INV allowing bids with INV/ETH SLP tokens.
We have identified the mechanism for the auction in the Gnosis auction platform
We would start with an amount of around 300 INV.
The draft proposal would be:
// Approve auction contract
0x41d5d79431a913c4ae7d69a668ecdfe5ff9dfb68.approve(0x0b7fFc1f4AD541A4Ed16b40D8c37f0929158D101, 300*10^18)
// Start auction
0x0b7fFc1f4AD541A4Ed16b40D8c37f0929158D101.initiateAuction(
0x41d5d79431a913c4ae7d69a668ecdfe5ff9dfb68, // Auctioning INV
0x328dfd0139e26cb0fef7b0742b49b0fe4325f821, // Bidding with LP
0, // No cancellation grace period
uint256 auctionEndDate, // TBD
300*10^18, // Quantity to sell
uint96 _minBuyAmount, // TBD based on market conditions
1*10^18, // Minimum bid to reduce gas settlement cost
0, // We can partially sell
true, // Allow final bid after end to incentivise settlement cost
0x0000000000000000000000000000000000000000, // No access control
0x // No access control
)
The text was updated successfully, but these errors were encountered:
We want to maintain liquidity in the sushiswap INV/ETH pair. The rationale for this initiative is to have a sustainable liquidity pool for the xINV oracle.
In light of the above we want to trial auctioning off treasury held INV allowing bids with INV/ETH SLP tokens.
We have identified the mechanism for the auction in the Gnosis auction platform
We would start with an amount of around 300 INV.
The draft proposal would be:
The text was updated successfully, but these errors were encountered: