The goal of this governance experiment is to delegate management of a portion of the HOPR DAO liquidity pool to an external service. The HOPR DAO controls a significant amount of liquidity, but without active management it’s hard to make good use of these funds. DeFi has evolved significantly in the 18 months since the HOPR token launched, and passively leaving millions of dollars in a few pools is an increasingly suboptimal approach.
Our community and DAO aren’t really mature enough to take a more active approach to management internally.
After the launch of the HOPR token, 100% of funds raised were moved to a Uniswap pool on the Ethereum chain in a HOPR-DAI pair. After the first DAO experiment, these funds stayed in the pool, but were transitioned to a Uni v3 pool.
The most recent DAO experiment saw the funds diversified somewhat. 500k of liquidity was moved to Gnosis Chain on the Swapr DEX. Another 250k was earmarked for a Uniswap pool on Gnosis Chain, although this has been delayed because Uni integration to Gnosis still hasn’t happened.
A further 250k of liquidity was moved to a HOPR-ETH pair on mainnet.
It’s the two mainnet pools which are under consideration in this vote.
HOPR-DAI pair on Uni v3 6.8m TVL
HOPR-ETH pair on Uni v3 200k TVL
The HOPR Association’s position is that is would make sense to delegate control of a portion of this (e.g., $500k) to an external management service, on a trial basis, with the option to transfer a lot more in 2023 if things go well. However, it’s obviously up to the DAO how much funds to commit, if any.