Following from the enactment of referendum #121 Remove KILT & CFG from Omnipool (https://hydration.subsquare.io/referenda/121) - the Hydration Treasury now holds:
1,168,855 CFG tokens worth ~$309,629.69 at the time of posting [29-07]4,634,452 KILT tokens worth ~$106,036.26 at the time of posting [29-07]I am creating this discussion to determine suitable next steps for these assets - as both have ongoing migrations and will become worthless within months if they are not migrated. Some potential next steps could include:
transfer them to a multisig of ex-Council/ IGL members in order to migrate the tokens and:
create OTC orders for other assets or stablecoins, at some discount to market price in order to decentralise the effort to migrate the tokens and remove unnecessary complexity (my personal preference)
If the second presented option of OTC orders were selected, I'd propose to use a multisig to create them in batches at some spot price discounted % in order to be more reactive to market price where needed.
Are there other suggestions for what to do with these assets? Keen to discuss all options before moving forward!
Either IG or OTC. Don't care, as long as we are yeeting it afterwards into HDX. If gun to head i reckon OTC.
Maybe OTC sell KILT for CFG, then migrate and LP CFG. We had some good relative volume on CFG.
I think you are right about Cfg. I wouldn't sell it. I would not be surprised if it has its crazy run back to $1. It's a smallcap with a solid team and we got a lot of interest for it on Hydration - more than for others.
Hi,
How about buying some Wud for the treasury? There is some potential, and we don't have to buy 22B
Personally in favor of using the Hydration platform where possible to get things done. So in favor of OTC option 2. The multisig options have work fine in the past with previous OTC orders so the proposal to do it in this way again is fine too