I would like to present a proposal on how we could maintain liquidity for pCLNY and bootstrap the economy on Polygon.
- Current pCLNY supply 1,716,805 pCLNY (ColonyToken (pCLNY) Token Tracker | PolygonScan) (When 1.1M pCLNY is locked on treasury and liquidity multisigs and ≈ 600k pCLNY In circulation)
- NFT Landlords - 447
- NFT Lands minted - 3,340
1 Total minted: 1.7 / 3,340 = 508 pCLNY per NFT land
2. In circulation: 600k / 3,340 = 179 pCLNY per NFT land
That means, on average, every landlord produced and owned ≈ 170 pCLNY per one NFT
As you might know, when Harmony Colony was released, nearly ≈ $300k in ONE token was injected into initial liquidity together with the liquidity mining program.
Unfortunately or fortunately, the market situation, economy, fear, and greediness did their job, and you can witness now that Harmony Liquidity pools are dried completely. You can witness it on Harmony chain.
We also agree with the feedback that we’ve received from our users that if liquidity is added from any third party, it will lead to the same result with drained pools as it happened on Harmony.
On another side, we start getting requests from landlords that they want to see the liquidity for pCLNY which also makes sense. The Landlords mint pCLNY they want to be able to trade them, increase pCLNY visibility and metrics that will drive more new users into the ecosystem.
As you know, the only NFT landlord can mint pCLNY tokens. We think if everyone Landlord that generates pCLNY tokens contribute % of these tokens to the liquidity pools, we will be able to maintain a positive same system when every landlord provides the same equivalent of their tokens to the liquidity pools.
Providing the same % of pCLNY to the liquidity will allow our community to feel that we are in the same boat and the project can grow and develop only when consensus between, all landlords are reached and bad actors are eliminated from the system (Learn more at Game theory - Wikipedia)
At the same time, we live in the real world, and there will be bad actors in every community. There will be bad actors, and they will try to cheat against the consensus and sell out their pCLNY while good actors will be providing liquidity.
To prevent bad actors from cheating and dropping pCLNY against the reached community consensus we will be able to kick off bad actors from the community (there are several tech solutions that could be implemented on the chain level)
For example, pCLNY minting can be frozen for every wallet that sold out more pCLNY that liquidity was provided by the same actor
Reaching consensus on providing liquidity and on-chain protection against bad actors will allow us to move forward in project development, to experiment with direct democracy and on-chain security against bad actors.
Please raise your voice and let us know what you think about such an idea.
- I like the idea (Share more details on how it will be executed)
- I don’t like the idea (Let’s try to find another solution)