Since the launch of $PUSH token, we have seen the community grow and now we have almost 4,000 token holders in our community. This proposal aims to further help grow our ecosystem of investors & traders and to stabilize the $PUSH token market with liquidity.
Making sure the liquidity of $PUSH is stable across all exchanges is very important to grow the $PUSH community. A highly volatile and illiquid token could drive away potential users. Hence, we propose to onboard Jump Crypto as one of our liquidity providers and to lend them 3% of $PUSH from our community treasury which now has ~40 Million $PUSH solely allocated for the growth of the ecosystem.
About Jump Crypto
Jump Crypto is the crypto arm within Jump Trading Group, which is one of the largest trading firms in the world. The crypto arm has been operating for the past six years and has become core builders, partners, and traders working towards the next frontier in crypto infrastructure. Jump has supported nascent and mature crypto projects alike, growing their networks and communities through liquidity provision. Recently, Jump was behind the $320M USD ‘patch’ of the Wormhole exploit.
Jump are the lead investors in the most recent fundraising round for $PUSH and would like to expand their support for the EPNS project by providing liquidity in the $PUSH token on exchanges. As part of this partnership, Jump will borrow $PUSH tokens as inventory to provide liquidity on existing exchange venues as well as future exchange listings.
Benefits of onboarding JumpCrypto
improve the token liquidity on exchanges
support listing on additional exchange venues
Post onboarding, the performance of the liquidity provider would be reviewed as per the agreement conditions that would be accepted by both parties internally.
If the feedback from the community is affirmative, this proposal would be promoted to Discussions Phase and then to formal voting on Snapshot. If ratified, a legal agreement would be signed by the two parties.
What exchanges and trading pairs do they support?
3% is approx 1.2 Million USD worth of push tokens which is just 2 days of current day volume in CEX. Is that sufficient?
What is the loan period?