Proposal for Listing $MIN on MEXC with CLS as Market Makers - Poll

This is a Proposal to approve the listing of the $MIN Token on the MEXC CEX with CLS as Market Makers. The Proposal includes removing 1mn USD of MIN/ADA POL for Market Making needs.

In the Proposal, you can find reasoning behind why Listing $MIN on a MEXC is a worthwhile initiative, why MEXC is one of the best CEX for the moment, why Market Making as a model is the best model for hiring a Market Maker on CEXs and why CLS is the best out of all Market Makers evaluated for it, the funding source for the initiative (DAO treasury), the removal of some liquidity, and a comment on the CEX strategy by Minswap Labs.

Here is a breakdown of the costs and their funding sources:

  1. CEX Listing on MEXC - 60k USDT
  2. Hiring of CLS as Market Maker for 12 months (1 CEX) - 25k USDT

These two costs add up to 85k USDT which is 18.16% of DAO Treasury Funds (as of April 24th).

  1. Removing Liquidity for Market Making - 500k USD worth of $MIN and 500k USD worth of ADA

This would be about 15% of DAO owned MIN/ADA Liquidity.

The Liquidity would be removed shortly before the CEX Listing. Not all would be added to the CEX market making account immediately. In the near future, a working group would be set up that would have discretion over the timing, sizing and management of these funds. For now, this responsibility would remain with Minswap Labs, which will work closely with the Market Maker chosen towards the best strategy.

Options for voting

Option 1) Proceed with this Proposal

Option 2) Do not proceed with this Proposal

  • Yes, proceed with on-chain vote
  • No, do not proceed with on-chain vote
0 voters