Upon execution, this proposal will send ~$180k worth of MNTA + 10% volatility buffer (= 248,338 MNTA at current price) and 72,000 USK to MantaDAO CW1-WL: Levered MNTA/USK LP (kujira175nh5ku5tdk2xdxm4kapzjy7nz5v0v4vc9st7hkme6h0rf73cksq2raaar).
Mike, via MantaDAO ops address who is admin to the CW1 contract, will then create a levered MNTA/USK LP that will be owned by the CW1. This will be accomplished by depositing $180k worth of MNTA and 72,000 USK in a levered BOW LP, and borrowing the remaining 180,000 USK (https://bow.kujira.network/pools/kujira1mf4v3x3pkuthha5a4r9jd0slgulcxkucy4weuqsvx2n030twduzqewuznf?pool=kujira1xtaadmh06s8u3z5mypp8qayhrnxgga5wr88s7raram4rz8zu37hquf82wk&tab=leverage).
This will result in ~$360k of MNTA/USK levered liquidity at 30% LTV at current price. MNTA price would have to drop by 84% for the position to become at risk of liquidation.
Mike will then return any unused MNTA to the treasury.
Mike will retain admin right of the CW1 till we have reach our target of $860k of MNTA/USK liquidity.
Full discussion here: https://discord.com/channels/1095005002201833495/1180173198826938428/1193278867620773949