Wintermute’s OTC Proposal for Tribe DAO’s INDEX

Proposals
1

Proposed Sale Terms:

Price: $2.00
Size: 100,000 INDEX
Total Notional Sale: $200,000 paid in USDC or USDT
*Subject to onboarding the DAO as part of our standard KYC/AML process

Summary:

Wintermute Trading would like to purchase the full amount of 100,000 INDEX from Tribe DAO in the form of an OTC agreement for $2.00 / INDEX.

Motivation:

Wintermute is an active participant in Index Coop governance and their main market maker across CeFi and DeFi. Purchasing Tribe DAO’s INDEX will allow us to continue increasing our presence within the Index Coop ecosystem, eliminate any potential downward selling pressure on INDEX and provide Tribe DAO with an efficient sale price.

Wintermute’s Basic Background:

Wintermute was founded in July 2017 by three Optiver veterans. Evgeny Gaevoy, founder and CEO, was previously head of ETFs (screen and OTC) at Optiver Europe, one of the largest ETF market making desks.

As of January 2022, Wintermute has traded over 250+ digital assets and 20,000+ digital asset pairs across 80+ exchanges (DEXs and CEXs) and over $1.9T in cumulative trading volume since January 2020. We trade over $5B a day in volume on average, continuously supporting and providing liquidity throughout the ecosystem for our partners and their communities.

Wintermute is backed by Lightspeed Venture Partners, Pantera, Blockchain.com Ventures and others.

Wintermute Trading is registered with FCA for our OTC business.

3 Likes
2

Good morning,

La Tribu (registered as a french company) can KYC to operate this OTC on behalf of the DAO with Wintermute, if the DAO decides to accept this OTC offer.

I would need the Snapshot and DAO vote to include a text like :

By passing this proposal, the Tribe DAO authorizes La Tribu SARL to operate this OTC trade between the Tribe DAO and Wintermute Trading, but this delegation of power is scope-limited to this operation only. The Tribe DAO does not authorize La Tribu SARL to represent it in other contexts or take any other engagements on its behalf. The Tribe DAO shall bear all responsibilities regarding this trade, including accounting and reporting requirements, or tax obligations. The Tribe DAO shall keep custody of the exchanged funds at all times, and La Tribu SARL only acts as a technical operator for this transaction.

The actual OTC would be executed on-chain using an OtcEscrow contract that I will deploy and will get funded with 100,000 INDEX through a DAO vote, at no point would La Tribu be custodying the funds. Wintermute Trading can accept the OTC deal by approving 200,000 DAI on the OtcEscrow contract, and call swap() to receive the 100,000 INDEX.

4 Likes
3

Hey @Eswak,

This would work thank you! I see it wasn’t included in the current snapshot. So I assume it will be in the subsequent vote if our option passes?

1 Like