TLDR: Transfer newly authorized SWPR token from DXdao’s mainnet treasury to xDXdao by way of the dev multi-sig.
After months of community discussion, REP holders passed a proposal this week that authorized the SWPR Token and Swapr guild. As part of the launch, the community is launching a series of liquidity farming campaigns to incentivize liquidity providers across Arbitrum One, Ethereum mainnet and xDai. The community member who deployed the token contracts deposited SWPR into aDXdao base and Ethereum mainnet, but SWPR is needed in xDXdao to launch liquidity mining campaigns on xDai, where the community plans to allocate 10% of the initial rewards pool
This proposal sends 742,000 SWPR token to the dev multi-sig, previously identified as 0x5f239a6671bc6d2baef6d7cd892296e678810882 whose signatories have been verified as REP holders, to be bridged over to xDai and deposited into xDXdao, where it’s to be used for SWPR liquidity mining rewards for the first 7 epochs. According to community plans, an additional 658,000 SWPR token Launching the individual campaigns will need to be done by xDXdao governance.
Risks & considerations
This is a fund transfer to xDai, which will rely on the Omni Bridge since SWPR is an ERC20 token. This entails risk but the bridge has been operational and frequently used by DXdao, so this risk is minimal. This proposal does not use a Relayer contract because SWPR is an ERC20 token. This is the first transfer of SWPR token out of DXdao’s treasury. A proposal will need to be submitted through an altered version of Alchemy or DXvote because SWPR does not appear in the Alchemy UI.