Proposal to Deploy a DEX Pool On a Low Cost Chain (Part 3)

Shutter DAO DAO Proposals
1
Proposal Title Author(s) Phase Type Date Created
Proposal to Deploy a DEX Pool on a Low Cost Chain (Part 3) Cornelis Theodorus van der Klooster I On-chain 15.03.2024

Title

Proposal to Deploy a DEX Pool On a Low Cost Chain (Part 3)

Proposal

We propose Shutter DAO 0x36 deploy a SHU/USDC pool on Uniswap v3 on the Optimism Mainnet. We also propose Shutter DAO 0x36 provides 350,000 USDC and an equivalent amount of SHU (at market prices) to be used to fund the pool.

Note that anyone can deploy DEX pools, but we recommend Shutter DAO 0x36 focus on one additional chain to reduce liquidity fragmentation.

Process

If the proposal passes, the following process will be triggered:

  • Shutter DAO 0x36 will transfer 350,000 USDC and 7,500,000 SHU to Artis

  • Artis will deploy the SHU/USDC pool on behalf of Shutter DAO 0x36 on Uniswap v3 on Optimism Mainnet

  • Artis will fund the SHU/USDC pool on behalf of Shutter DAO 0x36 with 350,000 USDC and an equivalent amount of SHU (at market prices)

  • Artis will transfer any excess SHU to the Shutter DAO 0x36 treasury

  • Artis will transfer the Uniswap v3 Liquidity Pool NFT to a SAFE on Optimism Mainnet controlled by the Shutter DAO 0x36 on Ethereum Mainnet

Background

Shutter DAO 0x36 Proposal Deploy a DEX Pool on a Low Cost Chain (Part 1)

Shutter DAO 0x36 Proposal Deploy a DEX Pool on a Low Cost Chain (Part 2)

Platform

Fractal (on-chain transfers will be executed if the proposal is approved)

Transactions

TBD

Voting Options

Vote “Yes” to deploy a SHU/USD pool on Uniswap v3 on Optimism Mainnet on behalf of Shutter DAO 0x36 and to fund the SHU/USD pool with 350,000 USDC and an equivalent amount of SHU (at market prices)

OR

Vote “No” to not deploy and fund the pool

OR

Vote “Abstain” if you do not have an opinion but want to help the vote reach quorum

License

CC0: This work is marked with CC0 1.0 as dedicated to the public domain.

5 Likes
2

Hey guys! :smiley:

We are defining the scope of this demand, as we show below.

Since we are focusing on the Gnosis task first, because of the launch, there is no update here beside having the cards organized in the kanban.

Deploying A DEX Pool on a Low Cost Chain

Task Estimated Hours
Deploy A Standard Token To be scoped
Make SHU Available in the Optimism Bridge UI To be scoped

As soon we have updates on this project, I’ll post here again!

Any questions or feedback for improvement please let me know. :saluting_face:

3

Hey Shutter Community! :smiley:

We started to work on this demand as shows below:

Deploying SHU on Optimism

Task Estimated Hours Status Cost
Deploy A Standard Token in Optimism 16h In Progress $1.360
Make SHU Available in the Optimism Bridge UI 8h To do $680
  • Timeline for completion: We expect to finish it by 29th Jul.
  • Issues are linked on the scope description
  • Estimated hours in Tasks that aren’t Done can suffer change.

As soon we have updates on this project, I’ll post here again!

Any questions or feedback for improvement please let me know. :saluting_face:

4

Hey community, the SHU token was deployed on OP!

Task specification can be found here, and the repo with more information and documentation here.

Bridging from Mainnet to OP was already tested, from OP to Mainnet takes 7 days and it’s being tested. In 5 days we’ll come back to confirm.

1 Like
5

We just tried to withdraw SHU using Superbridge and generated proof of withdrawal. Apparently, the TX on L2 wasn’t enough.

telegram-cloud-photo-size-1-5014855651226136001-y
telegram-cloud-photo-size-1-5014855651226136001-y728Ă—1036 29.1 KB

In test net, the withdrawal normally happened (tx), will give the update here when the withdraw is completed in mainnet. We recommend only using it after we complete this tests.

1 Like
6

Hey Shutter Community! :smiley:

We finished the work on this demand as shows below:

Deploying SHU on Optimism

Task Estimated Hours Status Cost
Deploy A Standard Token in Optimism 16h Done $1.360
Make SHU Available in the Optimism Bridge UI 8h Done $680
  • Issues are linked on the scope description

As @alextnetto.eth send above, it only needs to conclude the Test in the Mainnet.

7

We have now bridged SHU to Optimism and back to Mainnet:

telegram-cloud-photo-size-1-5156631417860500914-y
telegram-cloud-photo-size-1-5156631417860500914-y1280Ă—1107 65.8 KB
r

We’re sorry for the delay in confirming the success of this task.

We got stuck in a system reset, which took us a while to notice. This resulted in 7 days for the first run, 7 more for the post-reset run, and over two weeks that we thought we were done but things had been reset.