STRDY transferability

Based on discussion on Discord, it is planned to vote on transferability for STRDY shortly. This proposal discusses an idea for transferability that ensures:

  1. Users who want to sell their STRDY are able to
  2. STRDY will have liquidity from Day 1
  3. STRDY will be priced efficiently via a market mechanism


Phase 1: Users who have farmed STRDY and want to sell it send their STRDY to a contract. Phase 1 would run for 48 hours.
Phase 2: Users who want to buy STRDY send their ETH to a contract. Phase 2 would run for 48 hours. The price of STRDY would be determined in real-time by a Dutch auction, where the price starts high and gradually declines, similar to a LBP. All users receive the final price determined at the end of the 48 hours.
Phase 3: STRDY sellers receive ETH, and STRDY buyers receive STRDY-ETH LP tokens. The LP tokens should have some vesting period attached. At the end of this stage, STRDY would become transferable for all users.

There are some remaining items to be determined, such as the specifics of how the Dutch auction would operate, where the pool would be hosted (Uniswap, Balancer, or Curve), and the length of the vesting period for the LP tokens.

I don’t expect much buying pressure at all since the community morale of the project is pretty much at ATL because of the way how the team has handled things around the token.

Let’s just get this over with and fork GearBox’s code base for this auction. No need to open another discussion about the token that seemingly never ends.