As a follow-up to the governance discussions on Discord (https://shorturl.at/Qv3XM), this text proposal seeks to ratify the discussion with a vote on chain. This proposal seeks to:
1. Mandate the MantaDAO ops multi-sig wallet to withdraw 20% (~70,300 LP tokens) of the current MNTA-KUJI LP. This will produce ~120,341.50 MNTA and 44,813.90 KUJI. The Manta tokens from the withdrawn LP are to be returned to the treasury while the KUJI tokens are to be liquid staked via Quark Protocol for compounding in the meantime. When the income accrual contract is completed by Entropic, the qcKUJI will be migrated to a USK yielding LST.
2. Mandate the MantaDAO ops multi-sig wallet to participate in the upcoming PILOT auction with a total amount not more than 50,000 USK. This bid is to be in form of xUSK as the DAOs USK is currently sitting in Ghost with utilization at near maximum, preventing withdrawals.
If possible, the Ops Multisig will use Authz to grant PM the right to handle the sale on the behalf of the DAO for maximum efficiency. If not possible (it might require interreacting with more than one contract vs. Authz that can only grant one approval at a time) the multi-sig signers are to spread out the bids into at least two price points and at most four price points to ensure that the inefficiencies of operating a multi-sig towards then end of the bidding process do not make the DAO to lose out entirely of the auction.
Let us go voting!
Out of the depths, we rise!!
We are MantaDAO!!!