Migrate the Neutron DAO cw20.ASTRO to ASTRO and stake it

DAO Governance Main DAO Proposals
1

Summary

Migrate the Neutron DAO cw20.ASTRO to the new tokenfactory token ASTRO native to Neutron. This will then be staked in Astroport DAO to gain voting power and revenue for the Neutron DAO.

Proposal

Last year with proposal #13 Astroport granted the Neutron DAO 5% of the ASTRO supply as part of the strategic collaboration between Astroport and Neutron DAO. As a result of this the DAO currently holds 55,000,005 cw20.ASTRO tokens. These tokens are a cw20 token that was initially created on Terra, they need to be migrated to the new tokenfactory token native to Neutron.

With the native ASTRO we are requesting the help of LiquidSig multisig to support us in migrating it to the new token, staking it and sending the resulting xAstro tokens back to the DAO.

This will allow the Neutron DAO to earn revenue in the form of Astroport fees and will also allow the DAO to participate in Astroport governance going forward. In another post we will discuss options of how to proceed with the governance decisions regarding this.

Implementation

This proposal seeks the Neutron DAO’s authorization for LiquidSig, the Neutron DAO’s incentives committee, to perform the swap and staking.

If approved by the Neutron DAO, the migration of ASTRO would be as follows:

  • The proposal transfers the cw20.ASTRO tokens from the Neutron Treasury to LiquidSig.
  • LiquidSig swaps these tokens to the new ASTRO token.
  • LiquidSig stakes the ASTRO to ASTRO DAO
  • LiquidSig returns the resulting xASTRO tokens to the Neutron Treasury.

Composition of LiquidSig

LiquidSig was created by Proposal A11 to oversee Neutron’s pilot incentives program. Its address is: neutron1tthvu9rswd95a5hjryx9e2k39npnqffmkf6wlxr8qg8586rjvxhsrhvmk3

The committee is composed of the following signers:

  • Spaydh (Neutron)
  • Udit (TimeWave)
  • Rarma (Community Oversight)
  • Andre (Astroport)
  • Dane (Mars)
  • Luisqa (Neutron)
  • soi2studio (Neutron)

Timeline

  • Proposal published for community discussion on the Neutron forums (Sep 2).
  • Proposal will be posted on chain (Sep 5)
  • Multisig will perform the corresponding transactions and return the xASTRO tokens to the DAO (Sep 20)

Tx Message:

 [
  {
    "bank": {
      "send": {
        "amount": [
          {
            "amount": "55000004317287",
            "denom": "ibc/5751B8BCDA688FD0A8EC0B292EEF1CDEAB4B766B63EC632778B196D317C40C3A"
          }
        ],
        "to_address": "neutron1tthvu9rswd95a5hjryx9e2k39npnqffmkf6wlxr8qg8586rjvxhsrhvmk3"
      }
    }
  }
]