MIP#4

MIP#: MIP#4
Title: 3th Party Liquidity Service Provider at MEXC Proposal
Author(s): Jason.K
Contributors: MVCLabs, Andrew, Manhattan & Rachel
Editor: N/P
Date Proposed: 23-07-06 XX:XX(UTC)
Date Ratified: 23-07-13 10:00(UTC)
Dependencies: N/P
Replaces: N/P
Exception to: MIP-2

• Executive Summary:

According to MIP-2, projects with expenditures exceeding 2,000 USDT should undergo committee group voting in favor or proposal through space holder. However, MVC will be listed on MEXC before the MVC committee is formed. If Space holder wish to list ‘Space’ on MEXC by mid-July, we will not be able to have the entire committee review all matters.

Due to confidentiality rules, we are not allowed to disclose the contract details and terms of various service providers to the public.

Therefore, MVCDAO has two options to choose. May all space holders kindly review the conditions and choose one of the following options:

1) Agree to let Jason.K sign the liquidity service provider contract on behalf of MVCDAO this time.

2) MVCDAO should wait to form a committee before finalizing the liquidity service provider contract. [This option may potentially delay the space listing at MEXC for reference]

Due diligence process:

Before selecting Gotbit, Jason.K has conducted the following due diligence process and will be able to provide supporting documents to the upcoming committee group upon request:

2A) Four quotations have been obtained in total.

2B) Reference checks have been made on similar project quotations from the Rxxxx Telegram Channel.

2C) General comments, analysis, and discussions have been provided by Andrew and Manhattan previously.

2D) Extensive meetings and discussions have taken place with the liquidity service provider.

2E) Gotbit has provided historical records of other projects.

2F) Gotbit is not the cheapest service provider, but based on their reputation, they have been recommended by the manager at MEXC and Andrew (based on his previous experience - general comment only).

2G) After negotiation, Gotbit is willing to offer a 500 USDT discount for the first three months of operation.

2H) All the information from 2A to 2H will be available for committee reference and audit purposes upon request.

Other information:

Is liquidity operation record auditable?

Yes, full transparency report provided by Gotbit will be available to committee for review and public audit on a regular basis.

What will MVCDAO do to the excess reserve of the community liquidity at MEXC?

Any excess reserve from liquidity = Maintain at MEXC as liquidity purpose or Paid service fee to 3th party liquidity service provider or any future operation purpose, it is totally community fund. Available to committee's review and audit.

Governance token as rewards confirmation acceptance:

No, they only accept USDT upfront payment on a monthly basis. In future, the payment to them is from MEXC community account directly. Transparency report will be available to Committee’s review and audit on a regular basis.

Remarks:

Conflict of interest declaration: The author of this proposal has not received any commission.