**DAO liquidity options**

Purpose:

As of 8/20 SharkDao has been closed to new members. The reasons we closed the doors to new members was to establish more comprehensive governance rules and to establish a clear mission to better inform newcomers what it means to acquire community tokens in order to join SharkDAO. To open the door to new members again, and get a better understanding of what ETH/Shark ratio SharkDAO community tokens should be set at in the event that SharkDAO re-opens to new memvers, we propose to establish a liquidity pool on either Uniswap or Sushiswap. In order to do this, we propose to buy back an allocated number of $SHARK community tokens from current members.

**Goals:**
1. Have a market-based way to establish a swap ratio for $SHARK community tokens.

2. Allow existing DAO members to have some access to liquidity. Shark members will be able to add more to their stake or sell if they choose.

3. Allow new members to join SharkDAO while we wait for the DAO to reopen JuiceBox.

4. Solve any differences in vision between members by allowing each member the flexibility to do what is best for them at any given time.

**Explanation**

**** The DAO uses DAO ETH to acquire $25,000 USD of SHARK from current DAO members to seed a liquidity pool on either Uniswap v3 or Sushiswap.

Details:
* The DAO would be a liquidity provider contributing $25,000 in SHARK and $25,000 in ETH to the pool. The DAO would earn revenue from providing liquidity and yield farming rewards if they are ever enacted.
* ****We ask for community volunteers to sell their SHARK to the DAO at a price of 456,619 SHARK per ETH. The volunteers would understand that the market price for $SHARK once it becomes freely traded could go much higher or lower than the proposed 456,619 SHARK per ETH price. .****
* Future $SHARK minting (price and quantity) on JuiceBox will be decided in a later proposal.

**Pros of Uniswap v3**
* Concentrated liqudity (allows LP providers to limit IL or increase fee rewards by providing liquidty in a certain range)
* Uniswap already has a Noun 11/ETH pool. If we add Shark/ETH to Uniswap, this could cement uniswap as the defacto AMM for the Noun ecosystem
* Uniswap has larger volume and more users than Sushsiwap, giving us more exposure.

**Cons of Uniswap v3**
* No liquidity mining rewards at the current time.

**Pros of Sushiswap**
* Potential to be accepted on the Onsen rewards program which would provide extra rewards to yield farmers.
* Potential to be an NFT friendly platform with the anticipated launch of Shoyu, Sushiswap's own NFT platform

**Cons of SushiSwap**
* No concentrated liquidity for the time being (Trident, Sushiswap's concentrated liquidity feature, has no ETA yet)
* Being accepted into the Onsen rewards program is a longshot.

**What voting yes to either Uniswap v3 or Sushiswap would do:**
* We would begin the process of acquiring the SHARK from those interested in selling their SHARK and seeding the liquidity pool.
* We could start taking on new members.

**What voting no would do:**
* Back to the drawing board for a new proposal for liquidity.
* The DAO stays closed to new members.