Creation of a new LIKE/USDC pool in Osmosis

Topic: Creation of a new LIKE/USDC pool in Osmosis

Proposal Type: Text Proposal

By voting YES to this proposal, 25000 NUM in community treasury will be used to create a new LIKE/USDC pool in Osmosis.

Description:

This signalling proposal aims to create a new LIKE/USDC pool on Osmosis.

Pools of LIKE paired with stablecoin can reflect more accurate value of LIKE in pricing compared with current LIKE pools such as LIKE/OSMO and better protect price of LIKE from deterioration caused by the sentiment of crypto market. As native USDC now landed in Osmosis, it is benefit to LIKE stakeholders and the community to create a LIKE/USDC pool.

The cost of creation of the pool is 1000 OSMO before transaction and gas fee. If this proposal is passed, 25000 NUM will be sent from community treasury to ERC-20 wallet 0x5eC27AF713186946ab55271427099f2d2e312390. All NUM in 0x5eC27AF713186946ab55271427099f2d2e312390 received, after transaction fees, will be converted to OSMO to create the LIKE/USDC pool on Osmosis. All remaining OSMO will be converted to LIKE and sent to the community pool.