Following the enactment of MIP-5, we continue to enhance MetalSwap’s functionality on Linea’s Layer-2. Our upcoming Temperature Check poses an important question to our community: Should we transfer a substantial portion of liquidity from Ethereum’s mainchain to support our operations on Linea’s Layer-2?
This Temperature Check seeks community input on reallocating approximately $100,000 in liquidity from the Ethereum mainchain to Linea’s Layer-2, concentrating on the wstETH/USDC.e trading pair.
This initiative aims to augment the user experience for MetalSwap’s Hedging Contracts users on the new chain.
- Proposed Liquidity Transfer:
- Amount: Around $100,000: 25k$ from the WBTC liquidity pool, 25k$ from the ETH one, and 50k$ from the USDT one, based on the values of digital assets at the time the transactions are executed…
- Trading Pair: wstETH/USDC.e.
Reasoning: Since layer 2 has been active on Optimism, the 100% of MetalSwap’s dApp volumes went there, so the liquidity that lies on ETH loses its usefulness.
- Improved user interaction on Linea’s Layer-2.
- Strategic use of the less active liquidity from the ETH mainchain.
- Strong backing for MetalSwap’s Hedging Contracts on this new platform.
Participation Eligibility: To voice your opinion in this Temp Check, you must:
- Own $XMT in your wallet on Ethereum Mainnet.
- Have $XMT staked in the Active Ethereum Smart Pool or ALPHA CLUB NFT Pools.
- A 20 million XMT quorum is required for decision validation.
Make Your Voice Heard: Cast Your Vote in the Temperature Check Now!
The vote is open until Nov 13, 2023, 6:06 PM