DAO VOTE #2 Update

Vote Passed

Gravity Finance
2 min readMar 24, 2023

On 9th March 2023 a new DAO vote was initiated.

The results of the DAO Vote were announced on the 22nd March on the official Gravity Discord server.

We are pleased to announce that the DAO vote passed with an overwhelming 95.48% of the votes in favour https://snapshot.org/#/gravity-finance.eth/proposal/0x074a8ae5a3ac390c913ec2f1af2e22f4803b59a2acdf6a3d9bd9931b55e55332.

As always, we appreciate the participation of the community in this decision-making process and expect to continue to hold votes on these types of decisions in the future.

As per the information provided in the DAO vote, anyone who contributes towards funding the loans to the Market Maker will receive a portion of the incentives.

We invite community members who are interested in contributing to either the USDC or GFI pools (or both) to message GravityFi_D#1163 on Discord with pledge. Pledging ends Sunday 26th March, 21:00 UK time.

Please note that due to overwhelming interest in contributing to the pools, there will be limitations imposed for contributions, both for minimum and maximum allowances, this is to ensure a broad range of community members can take part in the process if they want to. Note that there is no guarantee all pledges will be accepted. In the likely outcome that pools are oversubscribed, the largest pledges will be scaled back first, and we will announce the minimum/maximum amounts that will be accepted early the w/c 27th March.

NOTE: IF contributing to either pool, please ensure you understand the risks associated with contributing, namely that these contributions are being lent to a market maker and will be repaid in 1 year from the date of lending. The market maker will have the option to return the loans in either USDC/T or GFI tokens, with the option to purchase the GFI tokens at a TWAP. See the vote page for an explanation and examples.

We are excited about this and look forward to the positive impact we expect it to have on our platform.