Sneed Proposal 79 helped to both extend Sneed’s presence in the ICP DeFi sector and successfully re-launch the $CLOWN token as a $SNEED fork. The CLOWN/ICP liquidity pool we provided to Sneed DAO in Proposal 79 has already doubled in value to 900 $ICP, signaling that $CLOWN is a wise investment for Sneed. We’d like to continue our collaboration with the Sneed DAO and build the reputation of both projects within the ICP ecosystem.

Our community would like to give 7% of our supply (~70,000,000 $CLOWN) to be Sneedlocked. This will effectively burn our tokens, while providing us the flexibility to move them via governance proposal if needed. In exchange for receiving our tokens, we request that Sneed provides 1000 $ICP to a new CLOWN/ICP liquidity pool on ICPSwap. The $ICP will be paired at full range with the $CLOWN tokens we provide, with any remaining tokens being held by Sneedlock. In addition, our treasury would like to give an extra 2,500,000 $CLOWN to be airdropped to members of the Sneed DAO as a sign of gratitude.

Executing this proposal will strengthen Sneed’s stake in ICP DeFi, providing a significant income stream through CLOWN/ICP trading fees. This proposal will stabilize $CLOWN’s liquidity and distribution as well. $CLOWN is still roughly 80% away from its ATH price, and as DeFi infrastructure develops on the Internet Computer, this proposal offers a unique opportunity to build a powerful presence within the ICP community.

Motion Proposal:

Motion Text:

Our community would like to give 7% of our supply (~70,000,000 $CLOWN) to be Sneedlocked. This will effectively burn our tokens, while providing us the flexibility to move them via governance proposal if needed.