[Temp Check] KTON DAO asking for KTON tokens from RING DAO Treasury

[SasoLithops]

Community Discussion on Proposal: Withdrawal of 779.659442501 KTON from RING DAO Treasury

Hello RING DAO community!

We would love to hear your thoughts and feedback regarding the proposal to withdraw 779.659442501 KTON from the RING DAO treasury. These tokens will be used to provide liquidity in the KTON/RING liquidity pool on the Base ecosystem, as part of our initiative to set up an Index Fund token on the Base chain.

This liquidity is essential to ensure KTON can be included in the Index Fund.

Key Points for Discussion:

• Liquidity Pool: The KTON tokens will be used to support the liquidity of the KTON/RING pair.
• RING Tokens in Return: In exchange, KTON DAO will provide an equivalent number of RING tokens. This transfer will happen gradually due to the current size of the KTON DAO treasury.
• Equivalence Calculation: The amount of RING tokens will be calculated on the day the KTON liquidity is provided.

Relevant Links:

• RING DAO Treasury (KTON holdings)](https://darwinia.subscan.io/account/0x6d6f646c64612f74727372790000000000000000)
• KTON DAO Treasury (RING holdings)](https://explorer.darwinia.network/address/0x08837De0Ae21C270383D9F2de4DB03c7b1314632?tab=internal_txns)
• This Discussion: https://github.com/orgs/ktondao/discussions/35#discussioncomment-11726730

We encourage everyone to take a look at the proposal and let us know your thoughts, questions, or concerns. This is an important decision, and your feedback is essential for the success of this initiative.

What are your thoughts on the proposal?

• Are you comfortable with the gradual transfer of RING tokens?
• Do you see any risks or areas that should be further clarified before moving forward?
• Any suggestions for improving the proposal or the process?

Please share your thoughts below and let’s discuss!

Thank you for your participation!

[Green-Chiles]

I support this proposal.

[SasoLithops]

Thank you @Green-Chiles. Means a lot from comming from a long time valuable member of community that stuck with us through whole bear market..

[hackfisher]

Some questions:

Who will own the KTON-RING LP tokens?

To make it simple, I think KtonDAO can request it as donation/sponsorship from RingDAO to the KtonDAO new plan on Index funds.

On KtonDAO side it is better to authorize a safe multisig on base chain for managing the LP in the proposal.

@hujw77 can provide technical support for generating the proposal actions.

[SasoLithops]

Thank you @hackfisher.

I personaly have no issue if both KTON DAO and RING DAO are owners and oversee the LP. And due to point you gave,

' To make it simple, I think KtonDAO can request it as donation/sponsorship from RingDAO to the KtonDAO new plan on Index funds.
On KtonDAO side it is better to authorize a safe multisig on base chain for managing the LP in the proposal.'

we could absolutely authorize a safe multisig( a MUST) on base chain for managing LP that could have 4 members 2 from each KTON DAO and RING DAO and at least 3 need to sign to authorize transaction.

Echo's help as ALWAYS is MUCH appreciated.

[hujw77]

Proposal Action: transfer 779.659442501 KTON to KtonDAO multisig (0x9497c0474c0Bba76942AD553DA91F4e52df45E8f)

Target contract address: 0x0000000000000000000000000000000000000402
Contract method: transfer(address to, uint amount)
Calldatas:

• to: 0x9497c0474c0Bba76942AD553DA91F4e52df45E8f
• amout: 779659442501000000000

[SasoLithops]

Thank you @hujw77 🔥

[nblogist]

add a multisig to the LP tokens and I support this 1000% thanks for this @SasoLithops thanks for the effort!

[SasoLithops]

Thank you @nblogist. Consider it done💯😉