Motivation
Sushi MISO still has a lot of unused potential regarding recipes. In the age of DAOs, there is high demand for standardized methods to create and launch tokens, which is currently not being met. By offering a large variety of recipes, MISO can become a key player in this area of the cryptoeconomy.
With Instant Liquidity Swaps (ILS), InstaLiq has conceived a fair token launch method, which could become a gold standard for collaborative DAOs and other token economies. If approved, this proposal will merge MISO with InstaLiq and integrate Instant Liquidity Swaps as MISO’s first recipe.
What is InstaLiq?
InstaLiq is a token launchpad entirely based on Instant Liquidity Swaps. Under the ILS method, the token creator conducts a batch auction for up to 50% of their token supply. Following the completion of the batch auction, a matching percentage of the token supply is provided to a SushiSwap liquidity pool, alongside with the entire proceeds of the auction, thus ensuring that the token is listed at exactly the same fair market price determined by the auction participants.
The LP tokens received are transferred to a governance-controlled smart contract. This ensures that tokens receive instant deep liquidity, while removing LP tokens as a vector for rug pulls. This can be complemented by implementing mintable tokens that are controlled by faucets.
A faucet is a governance-controlled mintable token contract, which mints tokens over time that are claimable by the addresses set as recipients of faucet streams. This can be likened to Sablier streams, but using a mintable token instead of an upfront allocation of tokens. At any time, faucet streams can be opened, closed, or adjusted by token holders, upon completion of a governance vote.
The end goal of this is to make tokens as unruggable as possible, by handling all team compensations through faucet streams. Since SUSHI is a mintable token, faucets can also be used as an improved way for handling ongoing team compensations for Sushi DAO devs.
Another feature within InstaLiq’s development pipeline is a DAO management suite. This will create a dashboard that summarizes all transactions occurring within a DAO in a comprehensive manner and provides a frontend for faucet votes. Also, this tool will create standardized ways to conduct airdrops. While not an immediate priority, this could be a valuable addition to MISO in the long run.
Since InstaLiq has an ambitious development roadmap that could be groundbreaking for the way DAOs and other crypto projects launch their tokens and we have only been able to do volunteer work so far, we feel that being part of a larger organization gives us better chances at reaching our goals. For this reason, we want to merge InstaLiq with Sushi MISO.
For
InstaLiq DAO will transfer all of their assets (website, Discord server, Twitter channel, Medium publication, and the ILS smart contract) to the ownership of Sushi DAO in exchange for a 10,000 SUSHI grant. @t_w_kaiser will be onboarded as a full-time team member of Sushi MISO.
Against
InstaLiq DAO will continue to operate as a standalone project.
Poll
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