Transfer delisted tokens

Treasurer

4d ago

1 Comments

Executed

Content

AI Summary

The last few months have seen a number of assets delisted from Omnipool trading, which has resulted in the Treasury holding large quantities of illiquid tokens.

This proposal, if approved, will transfer the following tokens and amounts to two multisigs with the following intentions:

Transfer to 16RJh4z1eUHpC3ntre9H2noKGKxihkSqog9PBt9bRbAnj4RE - multisig controlled by lolmcshizz, Crane, Leemo, Giraffe & Jose:

2.7M PHA
4.3M RING
12.7M ZTG
540K CRU
76.9M INTR

Multisig signers will attempt to sell the tokens via OTC in exchange for stablecoins within 2% of the current spot price on external markets - where one exists, but will extend this if needed to secure some value for the Treasury for particularly illiquid tokens.

Request multisig to swap 8.11M KILT on Base for stablecoins to be returned to the Treasury

Transfer to 13ewQXTnrTGnb6yXdDEqmNBkamrtWMXRRwdq28sopxbSPKjx - multisig controlled by Intergalactic

0.147 iBTC - to be returned to the Treasury as atBTC after withdrawing through Interlay vaults - ahead of ZP shutting down their vault in the coming weeks

Edited

Here's a simple summary:

The Treasury has some tokens that are hard to sell
They want to move these tokens to two special groups
First group will try to sell these tokens for stablecoins:
- PHA, RING, ZTG, CRU, and INTR tokens
- They'll try to get good prices
They also want to swap KILT tokens for stablecoins
Second group will handle iBTC tokens:
- Will convert them to atBTC
- This needs to happen before a service shuts down
All money will go back to the Treasury