Proposal for K9 Finance DAO: Initial Offering and Pool Management - Unification

General
1

Subject: Proposal for $5,000 K9/FUND Initial Offering

Date: August 6, 2024

To: K9 Finance DAO Community

From: Ringoshi (Ringo), Validator and Pool Manager

Executive Summary

I am proposing an initial liquidity offering from the K9 Finance DAO in the form of $5,000 worth of K9 tokens paired with $5,000 worth of $FUND tokens. This initiative aims to enhance the liquidity and pricing stability of the K9 and FUND tokens across multiple liquidity pools, leveraging the existing infrastructure managed by Ringoshi. This proposal outlines the benefits of this pairing, the management structure, and future considerations.

Background and Rationale

Current Management Overview:

  • Unification FUND/ETH Pool: $34,500 under management.
  • Precipitate RAIN/FUND Pool: $17,300 under management.
  • WoofWork WOOF/FUND Pool: $13,800 under management.

Proposed Addition:

  • Initial Pool: $5,000 K9 paired with $5,000 FUND, creating a $10,000 K9/FUND pool.

This addition will support favorable pricing for both K9 and FUND tokens and optimize liquidity across all partnered pools. By incorporating the K9/FUND pair into the existing liquidity management strategy, we aim to profit from general swaps and trading activity involving the K9, FUND, RAIN, and WOOF tokens.

Management and Operations

Management Structure:

  • Pool Management: Ringoshi (myself) will be responsible for the 100% management of the K9/FUND pool.
  • Fees: All pools have a 1% pool fee. Fees are collected and, as ETH fees permit, compounded back into their respective pools to maximize returns.
  • Liquidity Tracking: Liquidity and management are fully transparent and trackable via the following links:

Pool Flexibility:

  • None of the current liquidity pools are locked, allowing for the flexible claiming and compounding of rewards.
  • If there is interest from K9 Finance DAO in locking the pool to an owned dapp, further development and arrangements can be made to ensure continuous compounding while retaining access to rewards.

Future Considerations

Volume and Allocation:

  • If the K9/FUND pool demonstrates significant trading volume and profitability, I will propose an increase in allocation to further enhance liquidity and trading opportunities.
  • As the availability of FUND tokens is a limiting factor, future contributions may require purchasing additional FUND tokens. I currently have 500,000 FUND (approximately $32,000) available for such purposes.

Conclusion

This proposal offers a strategic opportunity for the K9 Finance DAO to strengthen its position in the market by enhancing liquidity and optimizing trading efficiency for both K9 and FUND tokens. With Ringoshi’s proven track record and transparent management approach, this initiative is poised to benefit the DAO and its community.

I look forward to the community’s feedback and approval on this proposal.

Best regards,

Ringoshi
Validator & Pool Manager
K9 Finance DAO Partner
[me@ringoshi.com]

8 Likes
2

Ringoshi imo has always been a solid community member for Unification (FUND) and Shib /Shibarium alike. As mentioned above he has a proven track record , is intelligent and loyal. I feel this is a well thought out proposal that deserves to move forward to a DAO vote.

5 Likes
3

I don’t know the ins and outs for having to propose to start a LP. I thought anyone can create a pool without permission.

Is this proposal more for outreach to the DAO to support it and market it as a valid pool to use?

2 Likes
4

This is a proposal for funding! I have $5000 worth of $FUND to pair with a hopeful starting amount of $5000 worth of K9 to complete the pair.

4 Likes
5

Ok help me understand the need and benefit to the DAO…

3 Likes
6

Full support of this proposal!

7

I appreciate your concern, Frank! The DAO will ultimately decide whether this is beneficial for K9. Personally, I believe it will help solidify the partnership between K9 and FUND as Official Shiba Partners, promoting unity under the concept that when one token succeeds, we all succeed. This approach helps everyone grow. Ringoshi Pool Management plans to expand into FUND/BAD, FUND/SHIB, FUND/BONE, FUND/xFUND, and even FUND/LEASH.

3 Likes
8

Proposal reviewed at Roundtable of Dogs on 8/9/24

Initial Offering and Pool Management - Unification - DID NOT PASS

  • 0% of Roundtable voted Yes
  • 58% of Roundtable voted No
  • 42% of Roundtable voted More Info

Takeaway - This proposal does not provide much direct benefit to K9 Finance DAO and opens the pathway for other tokens requesting KNINE for liquidity on their pairs without mutual benefit. The Roundtable of Dogs filters proposals that are in line with the mission of the DAO: to bring DeFi to Shib, while benefiting K9 Finance DAO. Unification Fund is a valuable ecosystem partner and the Roundtable would like K9 to get more information on how both parties can work together that are mutually beneficial. Ideas that were discussed is pooling computing resources for more nodes to be online with liquid staking, building infrastructure together for Shibarium, and more.

At the current time, the Roundtable welcomed purchasing the small amount of KNINE for the liquidity pool, noting that since the funds will not be in the custody of the DAO, there is not much tangible financial benefit. But, the optimism still remains to work with one another

Link to Roundtable Summary - Meeting Summary for Roundtable of Dogs Meeting #5 8/9/24

5 Likes