This proposal aims to prepare for the second bonds event kicking off on 4th January 2024.
As with any new Omnipool token launch, price sensitivity requires that Bonds creation and launch of LBP event are fast-tracked through governance - this proposal seeks approval from HDX holders for fast-tracking the launch referendum, by placing the following on-chain remark:
Fast-track referendum for Bonds creation and launch of LBP event. 22M HDX bonds, maturity 04-01-2025, starting price +22% premium to spot when proposal is on-chain, accumulating DOT over a 36h event, starting weights HDX 85 DOT 15, ending weights HDX 40 DOT 60, 2% swap fee.
The proposed parameters are:
SubSquare is proposing to launch a new event called the "second bonds event" on January 4th, 2024.
The proposal suggests creating 22 million HDX bonds with a maturity date of January 4th, 2025.
The bonds will be distributed to accumulate DOT protocol owned liquidity via an LBP.
The LBP will run for 36 hours, starting with 85% HDX bonds and 15% DOT, and ending with 40% HDX bonds and 60% DOT.
The bonds will start trading at a 22% premium to the spot price of HDX at the time the referendum is put on-chain, and there will be a 2% swap fee.