Feb 7
NEWS: $MODA token update
MODA DAO is coming to the completion of the formative stages, with clear legal and accounting guidance, initial DAO governance structures and many new opportunities on the horizon. As a result will be revealing a 2023 roadmap this month, including details of the long-awaited staking program.
6 new token trading and liquidity measures have been action or proposed
Get the $MODA overview at coingecko and follow official links only
With a huge amount of background work coming together in 2023, $MODA holders expect significant movement in token volumes during this period due to the nature of the roadmap. As a result, the MODA core team has proposed several additional measures will be made to support trading, some have already been actioned, and others will be available to vote on via snapshot in the coming days.
1) Continuation of $MODA buyback
As per the snapshot vote passed in July 2022, $MODA will continue to be bought back by the MODA treasury.
2) More liquidity added to SushiSwap
To enable larger trades, the MODA core team added $40,000 USD (25ETH) + $40,000 worth of MODA to the MODA/ETH LP pool on SushiSwap on the 7th of Feb at 5pm AEST.
Up to an additional $100k USD of ETH and $MODA will be added as new market makers come online as explained below.
Use COW swap for aggregated DEX trades for best price, low fees and to avoid being front-run by MEV bots on bigger trades.
3) New liquidity added to gate.io
Using Gate.io’s inbuilt liquid AMM, more than $100,000 worth of liquidity has been added to the MODA/ETH and MODA/USDT pairs. This liquidity is merged with Gate’s order-book to allow for tighter trades. Yield from the AMM will be used to buy $MODA be replenished into the MODA treasury
4) Consolidation of liquidity from Fantom and Near
A snapshot vote has been opened regarding the continuation or consolidation of Fantom and Near trading pools. It’s up to the community to decide whether these small pools are useful for exposing new users to MODA or if the liquidity is better to be focussed elsewhere.
5) New market makers being assigned
To further ensure price stability and liquidity depth, MODA has taken on a 3-month trial with an active market maker. This has now commenced and the continuation of this service beyond the trial period will be voted on by the community.
6) Application for additional CEX exchanges
Using the momentum expected to be created by the 2023 roadmap, MODA will be applying for several new CEX exchanges.
These measures will help with the $MODA trading landscape, but they are not enough alone. With staking finally arriving this month and a massive new roadmap, our goal is to move MODA towards 7 figure volumes and liquidity within the next few months.
Keep an eye out for the 2023 roadmap including MODA staking, open source initiatives, a huge new product and brand development, increased DAO voting and community involvement.
