Hi Gitcoin Community,
Currently the $SACKS/ETH LP position is held in the Gitcoin Grants Multisig. This allows for greater flexibility for using some of the LP assets to fund grants matching rounds. On the other hand, this flexibility could be a negative if users were less willing to hold $SACKS due to uncertainty over liquidity - there might be less value to use for grant matching overall.
I’d like to gauge community sentiment on asking the multisig to transfer part or all of the LP position to the Gitcoin governance timelock. This creates an ~11 day delay between submitting a proposal to remove liquidity and actually having it removed (2 day proposal delay period, 7 day voting period, and 2 day timelock). Maybe this added confidence will help the Gitcoin community keep $SACKS value from falling back to the ground?
** Note that vote choice will be publicly visible, and only accounts that have reached level 1 (basic user) or higher will be able to participate. In my experience this helps avoid brigading and sybil attacks, but happy to hear feedback on these poll rules.
- Yes, transfer the entire position
- Yes, but transfer less than 100% of the position
- No, keep the LP in the grants multisig
This poll will remain open for participation for the next 3 days. If a majority of voters support transferring the entire position, I’ll more forward with a token weighted vote to this effect in the GTC Snapshot space. If a majority of voters support transferring only a portion of the LP position, I’ll organize an additional forum poll to gauge sentiment around the desired percentage to transfer. If no option reaches more than 50% support (excluding abstain votes), or if a majority support keeping the LP in the Grants Multisig, no further action is required.
Cheers and happy voting