Ambire Governance Vote: Increase $WALLET Token Liquidity

Ambire Wallet proposes a governance vote to increase the $WALLET token liquidity to the decentralized exchange Uniswap V3.

🗳 Time for another chance for the Ambire Wallet community to have an active say in the project’s future!

We invite xWALLET token holders to participate in the next governance vote, which is to decide whether to:

Mint 50 million $WALLET tokens (out of a total of 350M allocated for the DAO) and further buy another 20 million from the market for a total of 70 million $WALLET tokens in order to create a deep liquidity position on Uniswap V3.

What does this proposal mean?

We want to ensure that the $WALLET token is easily obtainable so everyone can participate in the Ambire governance. We want to achieve liquidity deep enough to sustain a favorable price and fulfill the demand for the token, so we would like to create another decentralized pool.

Uniswap V3 was chosen because it’s the most capital-effective solution, allowing for the least slippage with a relatively small amount of funds. Plus, it’s the default DEX used in Ambire Wallet at the moment.

To achieve this, we will need to mint 50 million $WALLET tokens (out of a total of 350M allocated for the DAO) and buy another 20 million from the market.

We will pair those 70 million $WALLET tokens with $100k worth of $ETH and add a position that’s going to be covering a price range that’s from -35% to +35% from the current price at the time of adding liquidity.

The liquidity will be added on Ethereum on this pool, and the LP NFT will be held in our (the company’s) Ambire Wallet account, secured via a hardware wallet key.

The liquidity provision will be executed at an undisclosed time up to 2 weeks after the governance vote commences.

When does the vote take place?

Voting will last for а week, and it will take place between Tuesday, March 19th, 2024, and Tuesday, March 26th, 2024. All xWALLET token holders are encouraged to review the proposal’s details and participate in the governance process!

How can I vote?

You can vote if you are an xWALLET holder (xWALLET are tokens received for staking $WALLET). Anyone who owns xWALLET staking tokens has the right to cast their opinion in this governance vote.

To vote, all you need to do is connect a crypto-wallet where you have xWALLET tokens and choose your answer — it’s a simple Yes/No choice.

<< VOTE NOW >>

Do you have improvement proposals for Ambire? Visit our Forum and add your idea for the community to vote on next, or give us suggestions/feedback on this proposal.

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Ambire Governance Vote: Increase $WALLET Token Liquidity was originally published in The Ambire Wallet Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.