[Proposal] Providing GAL Liquidity on Uniswap V3

DAO Governance
1

Abstract

This proposal aims to enhance the liquidity of GAL/USDC pair specifically on Uniswap by allocating 1,800,000 GAL tokens from the DAO treasury. Of this, a portion of GAL will be diversified into USDC, with the remainder added to liquidity alongside the USDC on Uniswap V3. This initiative is designed to increase liquidity, promote on-chain trading of GAL, while mitigating any GAL price impact via strategic conversion of GAL to USDC via trusted OTC partners.

Specification

Overview

This proposal details the allocation of 1,800,000 GAL tokens for liquidity provision on Uniswap. The plan includes diversifying a portion of these tokens into USDC and adding both the USDC and the remaining GAL to Uniswap V3, thereby improving the GAL token’s liquidity and market stability.

Most importantly, additional liquidity on Uniswap V3 can help increase the GAL on-chain trading volume and holder count. As seen on Uniswap Info, higher pair liquidity correlates with an increase in volume for most trading pairs.

Scope

The scope includes:

  • Diversifying 1 million GAL into USDC through OTC partners to mitigate any potential market impact.
  • Adding the exchanged USDC and the remaining GAL to Uniswap V3, focusing on enhancing liquidity specifically on Uniswap V3.

Success Criteria

The proposal’s success will be determined by:

  • A significant increase in GAL token liquidity on Uniswap for the GAL/USDC pair.
  • Increase in GAL on-chain trading volume.
  • Increase in GAL on-chain holder count.

Timeline/Budget

The proposed timeline for implementation spans up to 2 months, encompassing:

  • Coordinate with OTC partners for the GAL to USDC conversion.
  • Deploy the diversified funds into Uniswap V3 liquidity pool.
  • Provide the DAO and community with a detailed report after successful liquidity provision.

The budget is set at 1,800,000 GAL tokens. The focus is on diversifying a portion of GAL into USDC via trusted OTC partner and using the remaining GAL to improve the GAL/USDC pair liquidity on Uniswap V3, thereby supporting further on-chain volume, adoption and stability of the GAL token within the Uniswap ecosystem.

Note: The actual GAL → USDC conversion number may vary based on the market price of GAL at the time of the potential passing of this proposal.

References

Uniswap Pools Info - Uniswap Info
Uniswap V3 GAL/USDC pair - Uniswap Info

81 Likes
2

That’s a great offer.

4 Likes
3

I don’t use Uniswap but this is great news for users :spades:

3 Likes
4

That’s great. Let’s do this

2 Likes
5

Good news, because you don’t always want to withdraw to CEX, it’s time consuming at least

Yes, and Uniswap is an excellent dex, it has practically no equal, to be brief, I support this proposal

4 Likes
7

That’s a great offer. :smiling_face_with_three_hearts:

1 Like
8

can’t wait. good job brother.

3 Likes
9

Is liquidity being provided on both BNB and ETH chains? If yes, what are the allocations on both chains?

P.S. Never mind. Theres no liquidity in GAL/USDc pool on BNB.

Given that Galxe reward users on BNB (eg. Community Season 2), would it not be beneficial to have some liquidity on BNB?

3 Likes
10

That’s great. Let’s do this

3 Likes
11

i agree. Lets do it.

2 Likes
12

This is a good thing for those who use the erc20 network and it’ll allow more adoption of Gal Token!

3 Likes
13

Why not. More liquidity must be better

3 Likes
14

That’s great. Let’s do this now…

2 Likes
15

Useful for development.

2 Likes
16

I don’t use Uniswap, but this is great news for users

3 Likes
17

That’s great. Let’s do it

2 Likes
18

this is a great plan!! the price will be hard to lower. you guys have a great future

2 Likes
19

What a great suggestion and a great project!! But it still needs to be safe and complementary!! I always support and support you for your wonderful and progress.

2 Likes
20

That’s a great offer.

1 Like
21

This is good, it will enhance more adoption for erc users.

1 Like