[DRAFT PROPOSAL] Protocol Owned Liquidity for $APOLLO / $NTRN on Astroport

This is a joint proposal prepared by representatives of the Neutron Foundation and the Apollo Development Team.
To facilitate this liquidity provision, the representatives will form the 3/4 “Apollo X Neutron POL” Multisig DAO, on DAODAO on Neutron as follows:

  • Multisig address: neutron1hgxer6ej3r37fhhj9l34dykg3w4rmjph0ejfh3vu9f293wq3ym5sc53f35
  • Signers:
    • Bruce (Apollo) (25%) neutron1jssn7m7u06jwe6ckzgxwsqs4uqlmyljf9te4eu
    • Other Mike (Apollo) (25%) neutron1w4yv8uvc0neqhxwqsg0qm0axlt8wcms4wy7qzf
    • soi2studio (Neutron) (25%) neutron17s76s29nyuu5p6xaqz0sndw3sgl78hy4gqm342
    • Luisqa (Neutron) (25%) neutron1ze09kc5ackut7wc4pf38lysu45kfz3msr98nru

Summary

Apollo X Neutron POL multisig proposes to establish Protocol Owned Liquidity for the APOLLO/NTRN token pair as part of an ongoing project to build sustainable liquidity for NTRN and other strategic tokens on Astroport.

$1m NTRN/APOLLO Protocol Owned Liquidity:

This proposal requests exactly 333,000 NTRN ($500,000 @ $1.50) from the Neutron Main Dao Treasury to be matched with 2,500,000 APOLLO ($500,000 @ $0.20) to establish ∼$1m Protocol Owned Liquidity in the APOLLO/NTRN xyk pool on Astroport.
More specifically:

  • Neutron Main Dao Treasury provides 333,000 NTRN tokens to the Apollo X Neutron POL multisig to pair with APOLLO tokens, and provide as liquidity on Astroport.
  • If/when this proposal passes the Apollo Development Fund (neutron1qnpwxhrgd8mmsfgql7df6kusgjr3wvm4trl05xu260seelwh845qtqqq9t) will provide 2,500,000 $APOLLO tokens to the Apollo X Neutron POL multisig to pair with NTRN, and provide as liquidity on Astroport.

Justification

Apollo is one of the premier applications to establish its homebase in Neutron’s early DeFi ecosystem; attracting attention and capital from outside Cosmos and leveraging Neutron’s early Integrated applications such as Astroport.
Despite the currently low liquidity and taxes, APOLLO already has over $1.5m in trading volume and has frequently been amongst the top traded pairs on Astroport. However this is just the start and Apollo aims to help Neutron become a core liquidity hub for liquid staking on Cosmos; driving sustainable liquidity through composability and volatility farming.
With only 3 Vaults live and volatility farming still to launch, over $4.5m is already locked in Apollo Vaults on Neutron. Most recently the Apollo TIA Vault has achieved over $1.4m in TVL in less than 2 weeks, with incentives for users to remain in the Vault for at least 12 months.

Learn more about APOLLO here: Apollo Tokenomics

This proposal would cement the APOLLO/NTRN pool as the main liquidity route in/out of APOLLO, making it easier to access APOLLO and onboard new users to the Neutron ecosystem.

By boosting TVL on Astroport we will:

  • Sustainably deepen liquidity for the NTRN/APOLLO token pair on Astroport - the liquidity hub for NTRN and main dex listing for APOLLO.
  • Improve trade execution for an important Neutron Application on Astroport, without the expense of incentivising liquidity.
  • Further align chain and project by diversifying treasuries with strategic ecosystem partner assets.

Execution

Upon approval of this proposal, the Apollo X Neutron multisig will convene on receipt of tokens to enact the will of the community i.e. deploy liquidity on Astroport and return LP tokens to the Neutron Main DAO Treasury and Apollo Development Fund.

The maximum possible amount of liquidity will be provided at the market rate on the date of provision with the available 333,000 NTRN and 2,500,000 APOLLO tokens in the Apollo X Neutron multisig treasury.

The resultant NTRN/APOLLO LP tokens will be split equally and returned to the respective team wallets:

  • 50% Neutron Main DAO Treasury
  • 50% Apollo Development Fund Wallet

Any surplus tokens that may arise due price fluctuations during the voting period will be split evenly and returned to the respective team wallets:

  • 50% Neutron Main DAO Treasury
  • 50% Apollo Development Fund Wallet
2 Likes

In favour of this proposal to provide deep liquidity in NTRN/APOLLO pair.

2 Likes