How should the Nyan V1 pools be handled in order to shift all liquidity to V2? When should V1 to V2 swaps end?

Nyan.finance
2 min readNov 8, 2020

In order to ensure that all future attention and development moves towards V2, Nyan voters will have to come to a consensus on how the liquidity in the V1 pools should be handled. Described below are the only two options to tackle the issue at hand:

Voting begins: 9th November 2020 10:00PMEST
Voting ends: 11th November 2020 10:00PM EST

Option 1:
V1 to V2 swaps are given a 1 week deadline before being disabled. A function will be created within the Nyan-2, Catnip-2, and dNyan-2 contracts that will then drain their respective pools using their accumulated amount from people swapping. The swapped ETH would then be sent to the Nyan Fund. With this strategy, the Nyan fund would immediately have access to ~180–210 ETH.

Option 2:
V1 to V2 swaps are given a 2 week deadline before being disabled. A function will be created within the Nyan-2, Catnip-2, and dNyan-2 contracts that will then drain their respective pools using their accumulated amount from people swapping. The swapped ETH would then be sent to the Nyan Fund. With this strategy, the Nyan fund would immediately have access to ~180–210 ETH.

Option 3:
The V1 to V2 swaps remain indefinite. Both pools will continue to run simultaneously, giving holders the leisure of swapping at their convenience, however, a snapshot will be taken to set a maximum swap amount for each user still holding V1 tokens. This option would still drain the V1 pools and the Nyan fund would immediately have access to ~180–210 ETH.

Why are there only 3 options?
There are only 3 options because the V1 contracts had no means to have its code upgraded. This leaves us with drastic/limited options when it comes to how we can control its market.

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Nyan.finance

Nyan.finance is a Decentralized hedge fund focused on introducing beginners to Defi.