HOPR DAO actions 08/2022

[SCBuergel]

For maximal transparency I would like to outline the instructions for the DAO multisig ahead of its on-chain execution on Tuesday, August 23rd. There are several on-chain interactions that are required following the decisions of the HOPR DAO. If anyone finds mistakes or has questions please post them below.

Pending DAO action items (AIs)

1. Send 194,142 HOPR to the HOPR Association multisig on Gnosis Chain at 0xE9131488563776DE7FEa238d6112c5dA46be9a9F to reimburse them for providing liquidity for the 3 SWAPR Campaigns

• DAO v0.2
• PROPOSAL 4: Liquidity Incentives
• vote results
• tx 1, tx2, tx3 (by HOPR Association, to be reimbursed up to the limit of the vote)

2. Send 391,785 HOPR to the HOPR Commercial Team multisig on Gnosis Chain at 0xD9a00176Cf49dFB9cA3Ef61805a2850F45Cb1D05 to reimburse them for HOPR Token Airdrop Staking from May 17th

• DAO v0.2
• PROPOSAL 12: Buyback Hopr from the market and distribution among the participants of the staking program
• vote results
• tx 1, tx 2 (by HOPR Association, to be be reimbursed)
• the DAO already performed the buyback, see tx

3. Send 2,200 DAI to the HOPR Association multisig on main net at 0x752af2bf9dbbc1105a83d2ca1ee8f1046d85b702 to reimburse sponsorship at ETHDenver and payment of videographer

• DAO v0.2
• PROPOSAL 14: DAI Proposals to be used in line with Hopr Token Proposals
• vote results (and the corresponding HOPR results again here)
• amounts:
  • total DAI to distribute across all proposals: 168,763 DAI
  • 20% of which to PROPOSAL 14: 33,752.6 DAI

4. Send 200’000 HOPR to the HOPR Association Multisig on Gnosis Chain at 0xE9131488563776DE7FEa238d6112c5dA46be9a9F to reimburse them for accidentally sent HOPR. These HOPR tokens were meant to go across the bridge into the HOPR Association multisig but accidentally the DAO multisig address was entered. Hence we kindly ask the DAO multisig to refund these tokens.

• tx (via Omni Bridge)

5. Remove $500’000 liquidity from HOPR-DAI Uniswap V3 pool on Mainnet and add to HOPR-xDAI pool on Swapr on Gnosis Chain. This AI spans over two approved DAO proposals:

• DAO v0.4
• PROPOSAL #2: HOPR-xDAI pair on Swapr, vote result
• PROPOSAL #5: Additional liquidity for HOPR-xDAI pair on Swapr, vote result

6. Remove $250’000 liquidity from HOPR-DAI Uniswap V3 pool on Mainnet, move to Gnosis Chain and add to HOPR-xDAI pool on Uniswap on Gnosis Chain once Gnosis Chain is integrated in the Uniswap UI

• DAO v0.4
• PROPOSAL #4: HOPR-ETH on Uniswap, vote result

7. Remove $250’000 liquidity from HOPR-DAI Uniswap V3 pool on Mainnet, and add to HOPR-xDAI pool on Uniswap on Gnosis Chain once Gnosis Chain is integrated in the Uniswap UI

• DAO v0.4
• PROPOSAL #3: HOPR-xDAI pair on Uniswap, vote result

Total required amounts

HOPR:

    194,142 (AI1)
+   391,785 (AI2)
+   200,000 (AI4)
+ 3,048,780 (AI5, temporary value, pending step 5 below: 250,000/0.0820)
+ 1,524,390 (AI6, temporary value, pending step 5 below: 125,000/0.0820)
+ 1,524,390 (AI7, temporary value, pending step 5 below: 125,000/0.0820)
===============
= 6,883,487 HOPR

DAI:

     2,200 (AI3)
+   250,000 (AI5)
+   125,000 (AI6)
+   125,000 (AI7)
===============
=   502,200 DAI

DAO multisig instructions

This section contains the instructions for the DAO multisig signers. Some values must be noted when creating the transactions: the temporary values at time of writing this post have been added in italics.

Part 1: Mainnet

1. Load Main Net DAO Safe

2. Note Balance before any tx on main net Safe:
   2.1. DAI: 49,298.65643531
   2.2. HOPR: 842,599.55660694

3. Send 2,200 DAI to the HOPR Association multisig on Mainnet at 0x752af2bf9dbbc1105a83d2ca1ee8f1046d85b702 → AI3

3 Remove liquidity on Mainnet HOPR-DAI Uniswap v3 pool → see section on Total required amounts relating to all AIs above
3.1 Load Uniswap Safe app
3.2 Navigate to Pool tab and note the Unclaimed Fees just before moving (just in case some % gets removed while removing a % of liquidity):
3.2.1 DAI: 132,900
3.2.2 HOPR: 682,400
3.3 Note the HOPR exchange rate from the info page: 1 HOPR = 0.0817 DAI
3.4 Adjust slippage tolerance to 0.1% from the settings cogwheel
3.5 Click Remove liquidity and adjust % slider so that the required amounts of HOPR and DAI are both just above the required amounts mentioned above. Remaining funds will remain in the DAO multisig.

4. Bridge 375,000 DAI to to Gnosis Chain via https://bridge.gnosischain.com/
   4.1 Connect via Wallet Connect
   4.2 Enter DAO multisig on Gnosis Chain (0xcB2Ce4E13518e7Bb830D594fC1755B0A8802cd65) as Recipient Address under Advanced settings
   4.3 Approve DAI deposit

#Part 2: After Bridge “approve” DAI:
Copy amounts and recipient address as noted above

4.4 Send transaction

5. Swap 125,000 DAI to WETH on Cowswap → AI6

Part 2: After Cowswap DAI-ETH swap

6. Add Liquidity Pool ETH / HOPR on Mainnet on Uniswap V3 using the Uniswap Safe app → AI6
   6.1 Select Pair: HOPR / WETH
   6.2 Fee Tier: 0.01%
   6.3 Deposit Amount HOPR: [will be auto-filled]
   6.4 Deposit Amount WETH: MAX
   6.5 Full Range: YES
   6.6 Set Starting Price: Check price Uniswap HOPR & Uniswap WETH with 10,000 $HOPR Uniswap Interface & divide price by 10,000
   6.7 “approve” HOPR

Part 3: After “approve” HOPR on Uniswap

6.8 “add liquidity” with above mentioned pool parameters

7. Bridge all remaining HOPR in DAO multisig via Omni Bridge to Gnosis Chain
   7.1 Connect via Wallet Connect
   7.2 Select HOPR Token to HOPR Token on GC
   7.3 Unlock

Part 4: After Token unlocked on Omni Bridge

8. Bridge all remaining HOPR in DAO multisig via [Omni Bridge]
   8.1 Connect via Wallet Connect
   8.2 Select HOPR Token to HOPR Token on GC
   8.3 Add Alternative Address of DAO multisig on Gnosis Chain: 0xcB2Ce4E13518e7Bb830D594fC1755B0A8802cd65
   8.4 Transfer

Part 5: After Bridging of HOPR & DAI tokens

9. Send 194,142 HOPR to the HOPR Association multisig on Gnosis Chain at 0xE9131488563776DE7FEa238d6112c5dA46be9a9F → AI1

10. Send 200,000 HOPR to the HOPR Association multisig on Gnosis Chain at 0xE9131488563776DE7FEa238d6112c5dA46be9a9F → AI4

11. Send 391,785 HOPR to the HOPR Commercial Team multisig on Gnosis Chain at 0xD9a00176Cf49dFB9cA3Ef61805a2850F45Cb1D05 → AI2

12. Add Liquidity Pool on SWAPR https://swapr.eth.link/#/swap?chainId=100 → AI 5
    12.1 Select Liquidity, Add Liquidity
    12.2 HOPR Deposit Amount: [will be auto-filled]
    12.3 xDAI Deposit Amount: 250,000
    12.4 Change Transaction Deadline to 360 minutes
    12.5 “approve” HOPR

Part 6: After “approve” HOPR on Swapr

12.6 add liquidity with abovementioned pool parameters

[thewanderingeditor]

Made some small edits for clarity, no details of txs, instructions or amounts were changed.

[SCBuergel]

I updated the OP and addressed unclear details in the Uniswap pool for withdrawal and added context for AI4.

[SCBuergel]

decreased the amount to be re-imbursed to HOPR Association by 15’000 DAI in line with previous discussions

[SCBuergel]

Updated instructions to reflect the additional approve in the Gnosis Chain Bridge transaction.