Proposal for funding the Connext lockbox

We are reaching out to propose the implementation to provide easy bridge for SWPR token between Arbitrum and Gnosis chains. There has been noticeable demand within our community and aims to address the current distribution skewness of SWPR tokens across different chains.In response to community feedback and to enhance liquidity and utility, we are proposing the establishment of a seamless bridge between the Arbitrum and Gnosis chains. In case, SWPR expands to any new chains in the future, this will act as a platform to bridge easy across chains.

Proposal Details We are collaborating with Connext to facilitate this bridging service. The proposed bridge will utilize Connext's xERC20 token standard, enabling a secure and efficient transfer mechanism between chains. For more detailed information, please refer to the Connext xERC20 setup guide. (https://docs.connext.network/usecases/xerc20/setup-guide)

Token Supply and Limits:

Initial Supply: We propose to supply an initial amount of 5 million SWPR tokens on both the Arbitrum and Gnosis chains to kickstart the bridge liquidity.

Daily Transfer Limit: To protect against abuse and ensure equitable distribution, we propose a maximum transfer limit of 100,000 SWPR per wallet per day.

Fees: To support the ongoing maintenance and operational costs of the bridge, Connext charges a nominal fee of 0.05% for every bridge transaction.

If this proposal passes, we will proceed to provide liquidity of 10M SWPR, 5M in Gnosis chain lockbox and 5M in Arbitrum chain lockbox.

start

March 4, 2024

9:59 PM

end

March 7, 2024

12:00 PM

Voting

off-chain

Voting type

basic

Voters

446

Votes

1,520,255

Final Votes

closed

For

1.5M SWPR

99.22%

Against

9.2K SWPR

0.61%

Abstain

2.7K SWPR

0.18%

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%