Hire a Market Maker for SPOOL [SIP - 1.25]

Summary :bookmark_tabs:

Hire a Market Maker for the SPOOL DAO Token.

Proposal :mailbox:

Earlier last year Spool DAO hired ATKA, a DAO member with knowledge in the field, to find a Market Maker for the SPOOL token. They provided different offers to the team and it was jointly concluded that, for the current situation and under present circumstances, Artis has the best offering for Spool DAO.

Artis will provide their market-making services for six months starting in February 2023, with a potential prolongation via a new proposal. For their services, they receive a monthly retainer of 5k DAI adding up to 30k DAI, accompanied by a total max bonus of 6k SPOOL tokens.
Additionally, for a one-time payment of 2k DAI, Artis will deploy the new SPOOL/ETH pool (if SIP - 1.23 concludes with β€˜yes’) using their technology to ensure that the deployment is safeguarded against frontrunning by malicious actors.

To fulfill their duties Artis will be provided with $50k of Assets in both DAI (swapped to ETH) and SPOOL to provide liquidity with, which will stay assets of Spool DAO.

Artis will provide the results of their efforts on a monthly basis to the Spool team.

Motivation :fire:

Crypto market making is a process that helps with bringing buyers and sellers of an asset to the market, creating demand and liquidity for individual tokens. Market-making strategies are one of the most common ways of ensuring assets have sufficient liquidity to attract buyers and sellers. Without a market maker, many crypto markets will become much less active (including SPOOL), as they fulfill the role of actively placing orders in order to earn profits based on the spread.

By hiring a market maker for SPOOL we help the buyers and sellers come together and increase the general outlook of the SPOOL token.

Vote :ballot_box:

With β€œYes” you vote to hire Artis as a market maker for Spool DAO for one year, with β€œNo” you vote against a market maker supporting Spool.

The vote takes place here

Timeline :clock130:


The vote closed with β€œYes”.