Proposal Name : Liquidity-BLOCK-AVAX
Owner : Arlyn Culwick
Cost : 19500 BLOCK
Voting : vote bbb9bae8be50af9bd3b67d348c4ed6666b971a884807ac57a3f39adcf13eefb9 yes

This proposal is to create a liquidity pool for BLOCK on Pangolin, the largest "DEX" on Avalanche.


A basic aspect of a cryptocurrency is its supply availability. Coins (or tokens) that are more available have a fundamental advantage over less-available coins.

Historically, BLOCK has been poorly available, both in terms of exchanges it is available on, and in terms of the number of coins available on exchanges.

This proposal is to make BLOCK highly available to a key audience: the Avalanche community.

Why Avalanche?

Avalanche is a key new market for BLOCK:

  • With the initial release of the Blocknet’s indexer due in May, the Avalanche community has taken an interest in the Blocknet. However, it lacks an easy way to buy BLOCK.
  • A BLOCK:AVAX listing will serve to introduce the Avalanche community to BLOCK.
  • Plans are in progress for co-marketing of the listing by both the Blocknet and Ava Labs. This should result in far more prominent publicity – and volume – than either project operating on its own.
  • Establishing broad support for the Blocknet amongst the Avalanche community may give us a sort of inside lane against competing indexer projects. Hodlers are fiercely loyal.

Additionally, aaBLOCK is intended as a payment mechanism for both Hydra and for the indexer.

Why Pangolin?

Pangolin is the most liquid exchange on Avalanche, and currently serves as the de facto exchange for the Avalanche community. As such, it is the most suitable venue for a BLOCK:AVAX pair.

Moreover, Pangolin has dramatically lower gas than comparable Ethereum-based DEXes. Since gas fees are currently rendering unworkable the trading of aBLOCK on Uniswap, it is expected that aaBLOCK on Pangolin will quickly become a preferred venue.

Fund management

Funds from this proposal are community funds and will be managed as such (e.g. publishing the addresses holding coins).

The liquidity pool in an AMM DEX maintains a constant proportion of aaBLOCK and AVAX. As such, the Blocknet will have AVAX and aaBLOCK community funds.

Arlyn (@synechist) will hold the funds.

In order to add liquidity to a pool, it is necessary to add an equal value of both coins in the currency pair. As such, when the source of the liquidity is a superblock, half of the BLOCK minted will need to be exchanged for AVAX before adding both to the pool. BLOCK sold for such purposes will not place downward pressure on the market. For the current proposal, OTC trades have been arranged.

In order to maintain a liquid enough pool to satisfy the market’s demands, further superblock proposals may be made.


Over the past month, community discussion has enjoyed broad support for new exchange listings in general, and in particular, a listing on Pangolin, provided that doing so does not distract from the following:

  • Block DX improvements

  • Block DX liquidity and bot operations

  • Roadmap funding

Additionally, people have stressed the importance of not placing sell pressure on BLOCK.

Given general support for this, @Conan and I:

  • reached out to Anyswap to add support for Avalanche

  • worked with Anyswap to tokenise BLOCK (as aaBLOCK) on Avalanche

  • made contact with a Pangolin developer to add aaBLOCK to a default token list

  • found sources of capital to create a liquidity pool of at least $100k on Pangolin

  • liaised with Ava Labs on PR-related aspects of launching a BLOCK:AVAX trading pair on Pangolin


This proposal is not using any funds that could be spent on development.

It is using spare space in the superblock after all other proposals are submitted.

This proposal will not place any sell pressure on BLOCK.


Fully support this proposal! :wink:

I just hope the OTC trade(s) for converting half the BLOCK into AVAX can be performed on BlockDX so BlockDX registers higher trade volume!