Delegate Voting Rights of 250,000 SD Tokens To Glass Markets for Community Transparency Efforts

This is a proposal to delegate voting rights of 250,000 SD from the SD Ecosystem Wallet to Glass Markets to participate in governance within the Stader DAO. The SD Treasury Wallet will maintain custody of assets and will only delegate voting power to Glass Markets to create further diversity of opinions within the DAO and increase community transparency.

Glass Markets will work alongside the Stader Labs team to make decisions around market-making, exchange listings, and other partnerships.

Glass Markets provides liquidity analytics and would like to regularly update SD stakeholders on SD’s liquidity metrics, including average prices, volumes, depth, spreads, and uptimes on various trading venues. As a stakeholder in the network and as a crypto-native service provider, Glass Markets wants to participate in community governance to vote on the future of the network. Additionally, the Glass Markets team will assist the Stader Labs team with future centralized exchange considerations around Stader’s liquid staking products.

Glass Markets Overview

Summary: Glass Markets is building analytics dashboards to evaluate the liquidity of tokens in real-time and historically. Offering proprietary trading insights and exclusive access to a reputation-based network of liquidity providers, Glass Markets empowers protocols to make more informed decisions around market makers, exchange listings, price simulation events, and more.

Glass Markets features early partners including Stader Labs and Ondo Finance. More info can be found at glassmarkets.io and @Glass_Markets. Glass Markets has already become a leading delegate for $ONDO, which also conducted a CoinList sale, with over 400 voters. Glass Markets already works with 10+ DAOs on a SaaS basis for its proprietary trading analytics platform.

Glass Markets has an existing service provider relationship with Stader Labs to provide insights into SD’s liquidity health on centralized exchanges and would like to open-source key metrics to the community to create better stakeholder transparency. This service covers many leading exchanges including OKX, Gate, Huobi, Crypto.com, and Bybit.

Glass Markets was founded by trading veterans who have worked at some of the largest trading and data firms in crypto. The Stader Labs team will be directly working with the CEO, Matt Batsinelas. Delegating tokens to Glass Markets aims to improve voter participation within the Stader DAO around key areas such as liquidity and offer further transparency to current and prospective stakeholders.

What is needed from Stader DAO?

Delegate voting rights of 250,000 SD tokens from the ecosystem wallet. Glass Markets will be voting from its address glassmarkets.eth

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Matt and Glassmarkets team have been quite helpful regarding measuring CEX metrics for SD token. They advised us with selecting the right market maker too. Their dashboard and reports are quite helpful while assessing the health of liquidity of SD tokens on CEXs. Support this proposal.

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Mind elaborating how does this work from an operational point of view?

Does Stader transfer 250k SD to your wallet and trust you act in good faith and don’t dump?

Does Stader keep 250k SD in their wallets and votes accordingly to your opinions?

Does Stader transfer 250k SD to you, but there is a multisig?

Thanks !

Hi @Mariella this is a great question.

Glass Markets holds no custody of the 250k SD. The SD Treasury Wallet will maintain custody. The are solely delegating governance votes to Glass Markets who can then have voting power within the DAO.

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good. Thanks a lot for your prompt reply !
So basically you tell them your vote each time and they execute accordingly, via the treasury multisig wallet ?

@Mariella Not exactly. The treasury will not transfer assets but rather just assign governance rights to Glass Markets.