XPRT circulation

This proposal is intended to further bootstrap XPRT liquidity on the Osmosis AMM and make $XPRT one of the most liquid assets on Osmosis to attract more token holders/stakers. Currently on Osmosis, XPRT has paired with ATOM and OSMO tokens. UST being the 3rd most liquid asset on Osmosis and the largest decentralized stablecoin gives the community a variety of options for liquidity provision. Inspiration: https://twitter.com/tushar307/status/1478646048612499460?s=21 By voting YES on this proposal, 530,000 XPRT from the community pool will be allocated to incentivize the XPRT/UST pool on Osmosis. By voting NO on this proposal, the community dissents on allocating 530,000 XPRT for incentivizing XPRT/UST pool on Osmosis. **Details** Users/LPs bonding their XPRT/UST LP token for 14 days on Osmosis will be incentivized through the community pool’s 530,000 XPRT. Distribution: ~5888 XPRT/Per day or ~$29,444(@ $5) per day for 90 days. How it would work: 1. The proposal time period will be 21 days 2. If the proposal is passed, the funds will be moved to a 2/3 multisig wallet 3. The funds will then be deposited on Osmosis AMM, which will be used to incentivize the LPs for 90 Epochs. Signers of 2/3 Multisig wallet: 1. [Tushar Aggarwal](https://twitter.com/Tushar307?s=20), Persistence 2. [Altcoin Psycho](https://twitter.com/AltcoinPsycho?s=20), PsychoNode 3. [James Parillo](https://www.linkedin.com/in/jamesparillo) , Figment Inc. who will perform the IBC transfer and deposit to the Osmosis liquidity gauges, after this point the funds are entirely non-custodial. Wallet Address - persistence1dl9lwzlzu5z6jklgpkmanchz95pmyd4yaxcex9 Effectively the XPRT/UST pool would have the following incentives: 1. XPRT bonus incentives 2, Swap fees 3. OSMO bonus incentives With matched incentives in OSMO, this allocation causes the selected pools to reach a targeted bonus of ~200% APR at $10M liquidity in the pool. By supporting this proposal, you will help grow and strengthen XPRT liquidity and to reach the target of being the top 5 liquid assets across the Osmosis Hub.

The Dexter team proposes to allocate **450,000 XPRT** tokens from the community pool, the funds would primarily be used for LP incentives to bootstrap early liquidity and to fund marketing, BD efforts, and other operational costs. Read more about our vision on the forum - https://forum.persistence.one/t/community-spend-proposal-discussion-grant-proposal-for-dexter-the-interchain-dex-for-yield-generating-assets/134/6 ## Governance Votes The following items summarize the voting options and what it means for this proposal. **YES**: You approve the proposal statements and agree to distribute the amount of 450,000 XPRT from the community pool to the following address **persistence1llm8kplnypxhhkh6f9jwmppgsvxg8ees3xjvfa** The address above is a 3/5 multisig with following participants: ### Validators on Persistence Core | Validator | Address| |---|---| | **Stakecito** | persistence1exne32ydd225effyg9lgktp5tvc78cngkuxxxv | | **StakeWithUs** | persistence12lkrzza9rem2mv7d247cmxjvh7cql6rc4v8hf0 | | **Cryptocrew** | persistence1705swa2kgn9pvancafzl254f63a3jda9aytqk6 |
### Individuals | Name | Role | Address | | --- | --- | --- | | **Abhitej Singh** | Strategy and Community at Persistence | persistence1869eftupek4dfqf3awdzcnfycwup5l4ehnnyfd | | **Pratyaksh Inani** | Lead at Dexter | persistence1s6quvek5zh5f4tvnvfagny7nusrjrx2ezluyls |
**NO**: The NO vote is a request for improvements or adjustments. You agree that this proposal’s motivation is valuable and that the team should create a follow-up proposal once the amendments are included. **NO (VETO)**: You veto the entire motivation for the proposal, and the proposers will not create a follow-up proposal. **ABSTAIN**: You are impartial to the outcome of the proposal.

### Summary Persistence Community Owned Liquidity (PCOL) is a new way to bootstrap liquidity on new pools on Dexter that aligns three key pillars of the Persistence Ecosystem: dApp Traction, Ecosystem Alignment, and Community Buy-in. This proposal suggests the creation of PSTAKE/XPRT pool on Dexter and bootstrapping it with 50,000 XPRT (approx. $10,000 at the current price) from the community pool as the first experiment of PCOL system. Read more about the vision behind PCOL on the Persistence forum [here](https://forum.persistence.one/t/persistence-community-owned-liquidity-bootstrap-liquidity-pools-on-dexter/251#the-details-on-chain-implementation-6). ### Details If this proposal is passed, the following actions will take place: A. PSTAKE/XPRT pool will be created on Dexter with the following specifications: - Pool Type: Weighted Pool - Pool Weightage: 50/50 - Pool Creation Fee: 250 XPRT - Swap Fees: 0.3% B. The above PSTAKE/XPRT pool will be bootstrapped with 50,000 XPRT(approx. $10,000) from the community pool using the following ⅔ multi-sig wallet (**persistence1axw5he6ktvz8rgacec3ldxmegy0urn0xevsysl7e0hx6dx90er6qlcv78s**), governed by the Persistence community. The multi-sig participants include: 1. Mikhil Pandey (Chief Strategy Officer, Persistence) 2. Jeroen Develter (Ecosystem Director of Products, Persistence) 3. Rajesh Iyer (Product Manager, Dexter) The multi-sig is instructed to perform only the following actions once it receives 50,000 XPRT from the Community Pool: 1. IBC transfer approximately half of the XPRT tokens to Osmosis and systematically swap them for PSTAKE tokens for the best possible rate 2. IBC transfer the PSTAKE tokens back to Persistence 3. Bootstrap the PSTAKE/XPRT pool with available PSTAKE and XPRT token balances 4. Indefinitely bond the minted Dexter LP shares 5. Send back all fees and rewards generated by the LP position to the Community Pool roughly every 2 months The multi-sig will be powerless apart from the above proposed on-chain actions. It is to be noted that any further changes to the LP position, such as removing liquidity after the initial bootstrapping phase, or compounding rewards into more liquidity, will be solely at the helm of the Persistence Community through governance. ### Governance Voting - By voting **YES**, you agree with the proposed creation and bootstrapping of the PSTAKE/XPRT pool on Dexter with PCOL. - By voting **NO**, you disagree with the proposed creation and bootstrapping of the PSTAKE/XPRT pool on Dexter with PCOL. - By voting **NO WITH VETO**, you think this is a SPAM proposal, and the proposal's creator should lose their deposit. - By voting **ABSTAIN**, you choose not to participate in this proposal; however, you contribute to the quorum.