This proposal aims to present the zerozero Community with three options concerning the future of zerozero DEX.
Shutting down the zerozero DEX, unwinding all liquidity positions and transferring all holdings to zerozero treasury wallets.
Shutting down the zerozero DEX, and transferring all liquidity to Uniswap.
Keeping the zerozero DEX as is - no changes.
The zerozero DEX currently has limited liquidity and trading activity, which is not serving either the community of 00 tokenholders or the community of creator tokens (CREA) holders effectively. The zerozero community acknowledges that listing creator tokens early in their lifecycle is not necessarily an effective way to build or value the creator tokens, and in turn value the zerozero community treasury. Other ways to value creator tokens, such as working with Web3 partners exist and can make CREA tokens valuable to their communities without being listed on an exchange.
This being said, it is possible that the limited trading activity is due to limited visibility of the new zerozero DEX. If the community feels strongly this is the case, an alternative strategy is to use the current liquidity of $00 and CREA tokens to create liquidity pools of the same size on a larger decentralized exchange, which we propose to be uniswap. While this will not necessarily increase liquidity, trading activity or the value of creator tokens, the increased attention to these creator tokens may be a tailwind for CREA tokens and in turn $00 holders, who would still own the liquidity positions on Uniswap.
Finally, an option to keep the DEX as is, and hope for renewed trading activity and liquidity is also a possibility.
The zerozero Community’s mission is to empower creators and users by providing a sustainable ecosystem for creator tokens. Deciding on the future of the zerozero DEX aligns with this mission by ensuring that resources are efficiently utilized to best serve the community.
Wallets mentioned during the following processes include:
0xEc73638be05Cc8D6Dd95695cf149Da7e9c9BfAFf : ZZL Operational Multisignature Wallet
0xC84E0BDBEd209afe1e40D026878904CB4b6246F7 : zerozero Treasury Wallet
The options presented in this proposal are:
- Shutting down the zerozero DEX, unwinding all liquidity positions, and transferring all holdings to the zerozero Treasury Wallet.
This option involves closing the DEX platform (zerozero.markets) and redeeming current liquidity positions in the form of LP tokens for their current 00 and creator token equivalents. Only the front-end and liquidity will be affected. Specifically, the LP tokens mentioned below would be redeemed for their corresponding worth in CREA and $00 by the ZZL Operational Multi Signature Wallet:
41,286.80176251305700539 00 DEX LP token (HEART/00 LP)
9,999.999999999999999 00 DEX LP token (00/LITA LP)
199,430.439000670105829734 00 DEX LP token (FEVER/00 LP)
5,773.647027659380563395 00 DEX LP token (IAM/00 LP)
12,909.87993747424437968 00 DEX LP token (NYELA/00 LP)
106,599.71857373733235679 00 DEX LP token (STEELO/00 LP)
9,999.999999999999999 00 DEX LP token (00/CULTURED LP)
5,773.647027659380563395 00 DEX LP token (MAHCOIN/00 LP)
238,365.265926057272107035 00 DEX LP token (NIKITA/00 LP)
15,811.388300841896658994 00 DEX LP token (EHTAGA/00 LP)
The tokens received in return for that liquidity position ($00 and $CREA) would be transferred to the zerozero Treasury Wallet.
- Shutting down the zerozero DEX, and transferring all liquidity to Uniswap.
This option involves unwinding all liquidity positions as proposed above and creating the liquidity pools with the $00 and CREA on Uniswap.
This will effectively place the same amount of liquidity for 00 and creator tokens on a different DEX, the Uniswap DEX, in the hopes that greater visibility will lead to greater and more organic volume.
- Keeping the DEX as is.
This option involves maintaining the current state of the zerozero DEX without any changes.
Steps to Implement
Conduct a community vote to decide on one of the three options.
Based on the outcome, proceed with the necessary technical and administrative tasks to execute the chosen option.
Communicate the results and next steps to the community.
Voting period: 7 days from the proposal posting date
Implementation: Within 30 days of the vote conclusion
Overall Cost: The costs will vary depending on the chosen option:
Shutting down the DEX and unwinding all liquidity positions: Limited costs associated with smart contract interactions and gas fees.
Shutting down the zerozero DEX, and transferring liquidity to Uniswap: Limited costs associated with smart contract interactions and gas fees.
Keeping the DEX as is: No additional costs.
Please ensure to vote for the option you believe will best serve the zerozero Community’s interests and growth. Your participation is essential in shaping the future of our ecosystem.