Background
Given the recent radical market volatility and inadequate liquidity conditions, the $MCB price action has become a pressing concern that requires immediate attention.
To improve the $MCB liquidity conditions and protect holders’ interests, MUX contributors propose to allocate funds from POL to the MCB/USDC pair on Uniswap.
Proposal
Allocate up to 500,000 USDC from the POL to supply liquidity to the MCB/USDC pair on Uniswap—Arbitrum.
The liquidity-supplying process will be carried out multiple times incrementally over the next 180 days, with the exact timing and frequency kept confidential. Importantly, the swap rates for each instance will be maintained below the 30-day average rate.
The $MCB tokens acquired from this process will belong to the MUX POL. The acquired $MCB tokens will be locked and won’t enter circulation for at least one year. After at least one year, the $MCB tokens can be used for community purposes, including but not limited to $MUX emission (replacing the current emission after it runs out and won’t increase it). Future usage of the to-be-acquired $MCB tokens will need to go through the governance process and will require approval from veMUX holders.
Next Steps
- Community discussion surrounding this proposal
- Community members vote to approve/disapprove of this proposal