[Draft Proposal] Lend Funds for Market Making from Community Treasury

Background

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.

More on Jump Crypto here: https://jumpcrypto.com/introducing-jump-crypto/

Expanding the Relationship with Jump Crypto

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.

13 Likes

A good step for a bright future

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”

2 Likes

Definitely in support of it

Sure,why not?
I strongly suggest update it ratio to 5% or 15%.Who guys in Crypto don’t know jump?

Can we move this proposal quickly?I want to vote YES for it ASAP.

1 Like

Awesome, Having a MM will definitely help

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?

This will definetly help increase PUSH adoption and improve trading.
This is a great proposal.

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!

1 Like

that same funding can provide significant exchange power via concentrated uni v3 pool than any cex looking to grow their bags off the skin of others

Affirmative, great idea :slight_smile:

Fully support this idea. would vote in favor, It would be great to get the details once they are available

1 Like

@Jaf
When will we vote for this proposal?

1 Like

will share more details very soon.

hi @JiepanCapital
this is now available for Governance discussion here