A DAO of LP’s to pool and earn rewards together
Description: As the MetaCartel Ecosystem grows, new and more powerful projects will show up and allow for the best ideas to rain supreme. For MetaCartel to continue acting as a center of the ecosystem it must grow its influence in the space. One of the best ways in doing this is helping to lift up the projects that align with our aligned with our values. Aligning the MetaCartel with Opolis, by joining in the Liquidity DAO aka: PoolWORKs, allows MetaCartel to stay in support of the community it has helped develop and reap yields for a more sustainable future.
Manifesto/Vision: By joining in this liquidity experiment we are signaling our support of the DAO and we are also partnering with an existing ecosystem project that many of our members are already utilizing. We stand to earn upwards of 70% APY if the DAO accomplishes its goals. By participating in this DAO we are helping to develop the ecosystem for decentralized employment.
Problem: WORK token has no liquidity
Solution: a DAO for WORK LP’s to pool and earn rewards together . The more liquidity = greater price stability = better future prospects of decentralized work.
Product: The result will be a successful WORK token. As the WORK token is one of the few tokens that can gauge the price of a decentralized economy, it’s price reflects the success.
Validation: Currently many teams and member of MetaCartel have already committed funds to the PoolWORKs DAO to help provide liquidity for the V1 token launch.
Progress: The DAO has launched. At least 7 teams have already committed funds (with 8 others finishing up proposals). LP Pool is set to launch on 9/12.
Differentiation: By building off the PoolHAUS model, we are launching liquidity as a unified DAO. Rather than 1 party launching first, and others following suit after (opening them up to the risk of price fluctuation) this allows us all parties to enter at the same price.
Team: Mystic Whales
@Yalor, Head of BDSM, Wrangler of Clients, and Slayer of Moloch.
@DamagedGoods, Maths Master, Excel Ninja, Tokenomics Zombie
@MoneyMage, Murder and Executions, Market Making and Analysis.
Grant Request : $30k DAI, matched by 60k WORK provided by @Yalor. All of these funds will be returned to the DAO after 90 days + all rewards earned. This is a temporary stake into the DAO, not an official grant.
Why do this now? The funds earned from staking this DAI into the PoolWORKs DAO could be enough to fund 3-5 teams that come through the grants process, if this goes well we would like to explore other ways of generating sustainable revenue for the grants program moving forward.
Help: We are always looking for motivated governance participants to join the DAO and drive values driven proposals.
Thank you for your consideration, we will look to ratify a proposal on this by Sept 7th pass or fail