DRAFT PROPOSAL 3: HOPR - xDAI pair on Uniswap (Gnosis Chain)

[The following is a draft proposal. Please discuss and provide feedback on this, along with suggestions for changes. The final version of the proposal will be presented for a vote on Friday July 8th.]

The DAO should move a total of $500,000 in liquidity from its HOPR-DAI pool on Uniswap on Ethereum to a HOPR-xDAI pool on Uniswap on Gnosis Chain, once support for Gnosis Chain launches. The fee structure should remain the same.

Potential things to consider and discuss:

  • The proposal to deploy Uniswap on Gnosis Chain passed almost unanimously but this still hasn’t been implemented yet.
  • As such, we haven’t contacted anyone to see about extra rewards
  • Uniswap is one of the most well-known DEXs. Based on stats from other Gnosis Chain DEXs, a TVL of $500k is likely to be one of the largest altcoin pools.
26 Likes

Yes, this is a good idea that will need to be done immediately after the implementation of the gnosis chain for uniswap. The pool amount is sufficient. If necessary, it will be possible to vote again for an increase after the launch.

1 Like

I like this idea. Keep using the same DEX on different chains if it’s possible.

The point is I don’t know when Uniswap v3 will be deployed to Gnosis chain. The proposal passed the vote in May but I don’t find a timeline since then.

5 Likes

I think this along with the other proposals are well balanced approach to investing the liquidity across the chains and risk assets and different incentivized dexes. Obviously since we don’t know when uniswap will finish implementing on gnosis chain this is a future proposition, and I think helps solidify the relationship with HOPR and Gnosis chain.

I think it’s a good idea. While I don’t know when Uniswap v3 will be deployed to the Gnosis chain, I will continue to look forward to Hopr from the beginning. No problem.

Is there a timeline for gnosis on uniswap? If it’s been approved, what is the delay?

It’s unclear. Given how long ago the announcement was, when preparing these proposals I assumed it would have been done by now.

If anyone from the community is able to go digging to find more information it would be greatly appreciated.

4 Likes

I have mixed feelings about this proposal. Uniswap isn’t yet on Gnosis Chain despite voting in favor in the temperature check back in April that @thewanderingeditor linked earlier.

Following the Consensus Check phase, we will submit this proposal shortly after to an on-chain vote. Provided that the proposal passes both steps, and all governance systems have been built and audited, we will be ready to move forward with the Uniswap v3 deployment on Gnosis Chain.

Despite the prior vote ending on April 18, I don’t see any progress on snapshot.org for this. “Shortly after” has long since passed so I question Uniswap’s commitment to deploying on Gnosis Chain.

Because we don’t know when Uniswap will actually hold the final vote on the proposal, I don’t support locking up half a million dollars in liquidity just in case they proceed. In addition to not having held the final on-chain vote, we also don’t actually know how long it will take to build and audit the governance proposals they mentioned. This could be months or years away.

Rather than hold $500k in liquidity for a pool in case Uniswap decides to deploy on Gnosis Chain, that liquidity should be invested on DEXes that have already invested in and been contributing to the growth of the Gnosis Chain ecosystem.

I do not support this proposal at this time.

2 Likes

I was thinking if that would be an idea to wait until Uniswap to be deployed on GC. Meanwhile, we could either split the $500,000 to the other two DEXs, SushiSwap and SWAPR, or we could simply keep the amount on Uniswap on Ethereum.

The fact that there has been no news since the voting a couple of months ago makes me feel that the team is not so enthusiastic with GC or there is some internal complication. (Of course, I might be totally wrong.)

Since the gas fee is very minimum on GC, I thought it wouldn’t be hurt to re-balance the liquidity distribution among the three DEXs once Uniswap is available on GC. We can carry out the DAO voting when we know further information. I would then keep the option of changing the pair to ETH for that voting.

1 Like

Although we are stuck with the old Uniswap tech, and a pending upgrade has not been confirmed, I think it’s
a great idea to diversify the pot.

I am in favor of this proposal. As many liquidity on Gnosis Chain. As I said on another proposal; "I am not at all an expert on this topic. But as HOPR is on Gnosis chain why not stay there and only make it possible for people to swap other tokens to DAI/HOPR so that this amount will grow in time…etc).

It also applies here: is Gnosis really at the edge of becoming a vibrant ecosystem? Number of active wallets, DeFi activity etc? Or is Hopr more or less the only reputable project which uses it as its ‘main’ layer?

As stated in the other two discussions, I believe that once Uniswap deploys on Gnosis (and we know that it will) it will become the most used Dex on the chain (see Polygon for reference).
Personally, I would rather have the DAO Liquidity on Uniswap without incentivized rewards (same as on Ethereum now) than on a poorly incentivized less popular Dex.

https://twitter.com/Uniswap/status/1516868445106802688?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1516868445106802688|twgr^|twcon^s1_c10&ref_url=https%3A%2F%2Fcryptopotato.com%2Fdefi-giant-uniswap-sweeps-50-market-share-on-polygon%2F

1 Like

Fantastic idea if there weren’t some red flags.

Without further explanation as to why Uniswap hasn’t made any pools on gnosis chain yet even after the April vote, it would seem to be a waste of time making plans for something, that so far won’t happen.

If we do find out more information, I would be all for this proposal. We definitely need more liquidity on gnosis considering I had a fair amount of slippage trying to purchase a decent bag of HOPR.

2 Likes

Fully support this proposal.

This is the best proposal out of 4 if uniswap is deployed on Gnosis Chain. As there is no timeline yet, I will support Proposal 2 and 3 combination. That means move liquidity to HOPR/xDai pair on Swapr, and also leave some budget for uniswap GC.

Uniswap is one of the most well-known dex and it’s switching to the gnosis chain will increase the awareness of the gnosis chain. There will be more trading volume on the Gnosis Chain and they will try harder to get a share of the pie on other dexes. Currently, there are not many projects that stand out due to the fact that the gnosis chain is known and less preferred. Hopr is the most prominent project and it is very important to have liquidity here when the Uniswap gnosis chain opens. It will increase the awareness of the hopr and cause it to attract attention. As @thewanderingeditor mentioned, an altcoin with such a high liq does not exist on the gnosis chain. That’s why I think hopr will be the most remarkable project when dex opens. If the effect is high after Dex is opened, then adding more liquidity can be discussed. @jbradach mentioned that the dex launch is uncertain and can take a long time, so he didn’t welcome the offer. I believe Hopr is a long-term project, so I don’t think it will do any harm to wait for it to maintain its quality. Despite the rewards given in other dexes, it would be more useful to wait and benefit from uniswap. That’s why I support this offer. Best regards…

I do completely agree with this, although I have to add that especially for small traders, moving to gnosis could be very beneficial. When markets rise, also the ETH fees will reach insane highs again, which for small traders is a huge pain. Personally tough, I am also not in favor of this propsal and would propose, that if at all liquidity should be moved to gnosis, it should be to a already existig DEX.

1 Like

I agree with this proposal, firstly the fees on Gnosis chain are very cheap and appropriate, will make it easy for many people in the community to access the ecosystem even though they don’t have a lot of money, secondly this implementation will make a lot of people people know more about Hopr