Mantadao - Proposal

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MIP-210

Build ~$358k of MNTA/USDC liquidity using levered LP

Executed

Proposer: kujira1cyg...nzcsnq5cg0

Proposal Tx EB90434878...7E917358C1

Execute Tx 7F4FA3657C...AF48A5BE48

Upon execution, this proposal will send ~$179.2k worth of MNTA + 10% volatility buffer (= 242,701 MNTA at current price) and 71,689.5 USDC to MantaDAO CW1-WL: Levered MNTA/USDC LP (kujira1tkz2mpshewhcrl57kfgycxa047jlgxc2dcuwc60nwwyzndxkr9hsex6jj4). Mike, via MantaDAO ops address who is admin to the CW1 contract, will then create a levered MNTA/USDC LP that will be owned by the CW1. This will be accomplished by depositing $179.2k worth of MNTA and 71,689.5 USDC in a levered BOW LP, and borrowing the remaining 107,534.19 USDC (https://bow.kujira.network/pools/kujira16mnw6am32ecqacsgz2kf9gfy8sh4uqyv0246f3rxnjz4up9k462q34jck5?pool=kujira1742pe93mxm0cwqjxgxh6th9sspdrluqvw9pha9q69eeatue4x5xs0wdq2d&tab=leverage). This will result in ~$358k of MNTA/USDC 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 ~$858k of MNTA/USDC liquidity. Full discussion here: https://discord.com/channels/1095005002201833495/1180173198826938428/1193278867620773949

Total Actual Spending

273,638.6 USD

242,701.0 MNTA

Date	Amount	Price ($)	Value ($)	Token	Tag
2024-02-20 15:54:32	242.7k	$0.83	201.8k	MNTA	LP Building
2024-02-20 15:54:32	100.0	$1.00	99.8	USK	Operations
2024-02-16 19:30:50	100.0	$1.00	100.1	USK	Operations
2024-02-20 15:54:32	71.7k	$1.00	71.7k	USDC	LP Building