Report & Proposal: $PHA Liquidity Provision in Astar DeFi
Treasury
1 Comments
Awarded

Proponent/Paid to: 428DUjXvNQAXfXBYzrWSZQnzXZEsgjjqaQSoCmB5DaWRdpy5

Date: January 5th, 2023

Requested PHA: 909,918.11 PHA (Cutody wallet of Phala team)

Short description: for liquidity provision to increase $PHA’s DeFi use cases on Astar, facilitate the liquidity demand and maximize the synergies between Polkadot parachains via XCM.

Proposal

Increasing PHA utilization in DeFi and the velocity of PHA is important and beneficial to all Phala community members.

Astar Network is one of the leading parachains on the Polkadot with a vibrant DeFi ecosystem. By providing liquidity to Astar DeFi ecosystem, it helps to facilitate the liquidity demand, bootstrap PHA’s use cases in DeFi, and maximize the synergies between Polkadot parachains via XCM.

Thus, we’d like to ask for PHA holders to approve 909,918.11 PHA from the Treasury to be used as liquidity to bootstrap $PHA’s use cases in DeFi on Astar. And at the same time, the Astar team will also provide 60K USD worth of ASTR assets to increase the liquidity of the ASTR-PHA pair on ArthSwap.

All assets and yield rewards with the potential impermanent loss deducted will be returned to Phala Treasury after the 1 year period.

The full proposal can be read here: https://astarnetwork.notion.site/Phala-Liquidity-Proposal-0d353f2e1993479196b25bc77d0ddf64

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Metadata
TimelineLatest activity undefined
2023-01-12 05:13:00
Proposed
Index
#50
2023-01-12 13:17:36
approveProposal
5/5
Aye(5)
Nay(0)
2023-01-12 13:38:36
Vote
2023-01-12 13:46:24
Vote
2023-01-12 14:03:12
Vote
2023-01-12 21:14:00
Vote
2023-01-14 12:18:48
Vote
2023-01-14 17:49:36
Closed
2023-01-14 17:49:36
Approved
2023-01-14 17:49:36
Executed
Result
Succeed
2023-01-15 19:32:24
Awarded
Beneficiary
Award
909918.11 PHA
Comments

I fully support this proposal as it will increase PHA utilization in the ecosystem and therewith bring benefits to the Phala community!

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