Proposal #33 is up for voting on Archway that aims to bootstrap Astrovault’s protocol owned liquidity with ARCH to better facilitate on-chain liquidity. In turn, Astrovault will allot 10M AXV tokens from the Token Generation Event (TGE), equivalent to 5% of supply, to the Archway Foundation to airdrop it to the community.
Proposal in Voting State and Airdrop – Expectations:
Note that this proposal is currently in Voting State and Airdrop is contingent on the proposal passing. Please also note that we do not have any details on caps, snapshots, eligibility, or any other AXV airdrop criteria. It appears that the Archway Foundation will determine these details at a future date.
Key Proposal Details:
- Purpose: The primary goal is to boost Astrovault’s protocol-owned liquidity with ARCH, enhancing on-chain liquidity.
- Allocation: 10 million AXV tokens (5% of the total supply) from the TGE will be given to the Archway Foundation for community airdropping.
- Usage of Funds: The funds will go directly to Astrovault’s Protocol Owned Liquidity (POL). None of the ARCH tokens will be sold, and this is not funding for the Astrovault team.
Financial Request and Strategy:
- Requested Amount: The proposal seeks 5,568,011 ARCH, equivalent to $750,000 at the current price.
- Astrovault Model: Astrovault.io uses an innovative Automated Market Maker (AMM) model, leveraging collateral from staking derivatives to secure chains and using staking rewards to grow liquidity.
- Benefits: This approach revitalizes liquidity farming, offers operational savings for Layer 1 platforms, and promotes on-chain activities.
AXV DAO and Community Benefits:
- DAO Earnings: The AXV DAO will benefit from the inflationary emissions of Layer 1 assets hosted on the platform.
- Client and Platform Success Alignment: The value of clients’ tokens is directly linked to the AXV DAO treasury, aligning the success of both.
- Community Airdrop: In exchange for the funding, Astrovault will allot 5% of its TGE to Archway Foundsation to airdrop to the community. Unclaimed tokens after 6 months will be split between the AXV DAO and the ARCH community pool.
AXV Token Utility:
- DAO Ownership: Holding AXV tokens grants ownership in the DAO and its treasury.
- Diversification and Governance: Stake AXV to earn rewards in different Layer 1 tokens and participate in interchain governance.
- Deployment: The AXV token will first be deployed on Astrovault on Archway.
Voting on the Proposal:
- Yes Vote: Agreement with the proposal.
- No Vote: Disagreement.
- Abstain: Irrelevance of the proposal.
- No with Veto: Strong opposition.
Links – Astrovault – POL for Airdrop:
Conclusion:
The proposal aims to solidify the liquidity of the Archway chain through a strategic airdrop of AXV tokens, enhancing the ecosystem’s overall efficiency and growth potential. The initiative focuses on mutual benefits for the Archway community, Astrovault, and the broader blockchain ecosystem.
