xGov-169: COSG AMM liquidity

Governance xGov Proposals
1

id: 169
period: 3
title: COSG AMM liquidity
author: Cosmic Champs (@madshapes-dev)
discussions-to: Cosmic Champs
company_name: Cosmic Champs International Limited
category: Community
focus_area: User Onboarding
open_source: No
amount_requested: 10000
status: Final

Abstract

$COSG token is participating in multiple AMM LP pools so that the algorand ecosystem has better incentivization on better DEX aggregators and for end users the swap quotes between algorand, COOP and META and ALC are better.

We request grant to increase the AMM liquidity. With 10k Algos received from this grant we will split it to 4 baskets - algo, COOP and META and ALC, Cosmic Champs treasury will add equal stake in $cosg tokens and will increase the liqudity in the pools.

We will increase these pools:

  • COSG/Algo - 4k algo plus COSG token worth of 4k algo
  • COSG/COOP - COOP worth 2k algo plus COSG token worth of 2k algo
  • COSG/META - META worth 2k algo plus COSG token worth of 2k algo
  • COSG/ALC - ALC token worth 2k algo plus COSG token worth of 2k algo

Liqudity will be held at the pools for minimum of 3 months.

Liquidity will not be locked in vault, as we reserve right to rebalance the the pools to express same share between assets in long run. We will create special account for this grant so that public can oversight the usage of the funds.

Team

https://cosmicchamps.com/#team

Experience with Algorand

For the last 2 years, we have been building a p2e game on Algorand called Cosmic Champs. We are innovators in the 3d NFT space with our fully animated 3d NFTs that are used in our game and also have utility outside of the game itself (3d viewer, AR viewer).
We have a strong understanding of the NFT space, the technical specifications, and the supporting infrastructure available. This positions us well to deliver a strong product for other Algorand projects to use and benefit from.

Present Proposal

With this grant request we will increase the liqudity of the COSG token.
very simmilar proposal as: xGov 161: VoteCoin - DAO Liquidity by scholtz · Pull Request #161 · algorandfoundation/xGov · GitHub

Future Blueprint

Benefits for the community

Additional information

Play our game here: https://beta.cosmicchamps.com/
NFT browser + 3d view: https://nft.cosmicchamps.com/
Browse game characters: https://cards.cosmicchamps.com/
Coorporate page: https://cosmicchamps.com/

2 Likes
2

So in short, this is a grant to purchase Coop, Akita, and ALC?

What happens to awarded funds after the 3 month window?

3

xGov is not for liquidity proposals, especially when its not AF holding the liquidity and the option for the ALGOs to be returned after some time. On top, IF liquidity proposals were a thing they would have to be of the form ALGO-TOKENXYZ where ALGO is provided through the proposal and TOKENXYZ by the project. ALGOs from the xGov fund are not supposed to be used to buy tokens to pump them.

3 Likes
4

I storngly disagree with this statement, xgov granted 32k algo for LP to the vote coin in previous period (despites overly negative public response) and there were no rules to exclude it this period. We were all very vocal about this, but if no changes were made, to prevent it after a lot of feedback, then i think not asking for LP is a bad move.

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5

in short this is a jab at the xgov system, that refuses to evolve to prevent requests like this, despites many very vocal people asking for the change. Don’t hate the player, hate the game

6

and that one shouldnt have passed either

3 Likes
7

AF has created the rules, they have reviewed the proposals before voting session, enough of expert governors decided they want to support this proposal.

Lets see how all similar proposals in this voting session will go. If enough experts will pass all of them, it will be signal that it is desired activity. If some of the similar proposals will not pass it might be indication that those projects does not deserve to receive grants.

@simonb Would you prefer AF to change the rules after the onchain voting has passed a decision according predefined rules?

8

no it wont be a signal that people want since you are voting for it and abuse that people vote for everything

1 Like
9

no, we live and die by xgov votes - if xgovs support it, so do i. And since it wasn’t voted on to be prevented in this period, i have no complaints - thus the xgov-169 proposal was born.

10

8dfm10

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1 Like
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14

confirmed entertained sir.
giphy

15

In light of the new rules introduced to xgov framework we are withdrawing this proposal.
Mission accomplished thank you all for participating!

1 Like