I’ve voted “Make no changes” on the proposal based on the following thoughts - as outlined in my Delegate Thread:
- I believe in the potential of Protocol Owned Liquidity, where a DAO actively holds and manages some of the Liquidity of its native token (and other tokens it deems valuable) to benefit from the market-making rewards and influence that comes with it. I see the moment of unpausing the token as a good opportunity to establish Protocol owned Liquidity. Depending on the assets that SafeDAO will control in the following months, I suggest SafeDAO host a Gnosis Auction or Balancer LBP right before tokens unlock to A. Have price exploration take place before tokens unlock B. To gain some counter assets that can be used to continue LPing SAFE after unpausing.
After the unpausing, I suggest creating a liquidity pool on Balancer with the gained assets from the Auction/LBP as many allies of Safe (such as GnosisDAO) already hold a substantial amount of veBAL and can help increase rewards to and depth of a SAFE pool on Balancer. There are also ways to further enhance returns and depth of the pool by integrating it into the Aura system - which I think would be valuable to SafeDAO.
- Next to the lost opportunity to gain PoL - I am worried about the current market conditions and the pressures it may create. As many stakeholders are down substantially, they may be forced to liquidity share of their SAFE tokens. I suggest unlocking in a less volatile market to allow stakeholders to make well-thought decisions about whether they hold on to their SAFE tokens or not.
- Finally, I think unpausing after the claim window closes is better - as it provides more clarity to stakeholders that want to come into the SAFE ecosystem about circulating supply and the number of tokens held by each stakeholder group.
I would suggest continuing this conversation - discussing whether we want and can host an Auction/LBP and ensuring all stakeholders (including investors and possible exchanges) are set before we unpause the token.