This is a discussion on this text alone, if you want to sway peoples opinions or have an issue with the process. The vote is live for 72 hours starting UTC 03:00 June 6th, ending 03:00 June 9th
Here is the text for the first vote
This voting proposal is for determining the assets and weighting of the ETP20. If you agree, you agree to the details of this post: ETP 1 Final Summary Pre On-Chain Vote.
Proposed Specification Details:
- The basket size of this ETP will be set at 20.
- Illiquid Assets: $RARI, $SWAP, $IDEX, $RAZOR
The feedback received was that most members were happy to keep the 4 tokens which are most illiquid in the current ETP, as well as in favour of keeping low cap projects in the ETP for performance reasons moving forward.
Rather than using just market cap for the weighting, a squared market cap will be used to weight the constituents.
Asset constituents are capped to a weight of 15% and a 1% weight floor will be introduced.
- Coverage: Have active tradable markets and been trading for 60 days.
- Liquidity: Have an average daily trading volume that exceeds $50k USD
- Tokenomics: Access to supply and free-float data.
- Token Holder Count: > 500 Addresses
- Particular Exclusions: Stablecoins
A vote “Agree” represents we should move forward with this ETP and will launch it as soon as practical.
A vote “Disagree” represents a new proposal should be made based on user feedback on a follow up post and we will refactor our choices.