On the recent Senate call two proposals were discussed regarding the KONG Land treasury:
- Liquidating $ENS token for $ETH
- Adding $CITIZEN and $ETH to a Uniswap v3 position
For the first point, the Senate proposes that we trade the $ENS token in the treasury into $ETH. This more closely aligns us with Ethereum and its success broadly rather than making a specific bet on a project that KONG Land does not currently have ties to.
For the second point, the Senate proposes that we add $CITIZEN and $ETH to the Uniswap v3 $CITIZEN/$ETH pool in order to create a reasonable floor for those looking to become a $CITIZEN (price at the time of writing, ~1.27 $ETH) or to dispose of $CITIZEN (price at the time of writing roughly $1.37!).
The Senate discussed various options here, including adding 1-4 $CITIZEN and 0.1-2 $ETH in a semi-locked position (any removal of the position would require another snapshot vote). The goal would be to create support around the recent sale price of a revealed $CITIZEN ERC721 token which was ~0.1 $ETH.
This post serves to review both topics for inclusion in a single snapshot vote.