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.
Proposal Description
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.
Conclusion
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.
This definitely makes a lot of sense!
Aside from helping stabilizing $PUSH liquidity, it will also bring many more benefits to the ecosystem growth due to the companionship that comes with this.
JumpCrypto leading our recent Series-A round, shows the belief and commitment they have in the project.
Fully onboard with this idea!
JumpCrypto
“We’re builders, partners and traders who take a long-term view of crypto’s prospects and operate to unlock the full potential of open, community-driven networks”
Few Questions
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?
im against. the future of crypto is decentralized exchanges, if we want this growth, incente the community itself via dexes as opposed to growing bags of centralized exchanges.
uniswap
sushiswap
cowswap
etc
etc
any effort outside of that is a money grab more intent on short term gains than long term support.
dont give centralized companies the means to profit off future users with no skin in the game; instead give benefits to early believers via incentives!
