1/ Intense "battle" on the @Kleros_io futarchy markets for KIP-81, which will determine whether a significant amount of PNK tokens will be minted and sold at market price to the Kleros Cooperative.
2/ A slight majority of the volume is currently on the NO markets.
This means those in favor of the proposal are selling NO tokens, meaning they are selling their PNK if the proposal fails.
3/ As of the latest Kleros Cooperative meeting, the price for the purchase was set at 599 ETH to PNK, slightly above current market price.
If approved, the proposal will dilute existing PNK tokenholders by about 13%, and capitalize the KlerosDAO treasury.
4/ Just yesterday, a majority of tokenholders had voted against. But as of the latest partial count on Snapshot, and with only 10 hours to go, the vote is now on track to pass!
But based on Kleros' KIP-76, proposals that mint new tokens require a further approval by the futarchy test.
So the approval of the proposal now depends solely on the markets.
5/ The futarchy test is based on the average prices (TWAP) of the YES and NO prices.
As of right now, the KIP-81 is on track to fail, with the current difference at -0.28%. With a bit less than 10h left to go, it all depends on where the markets will go.
You can see these markets live here:
Or on Snapshot:
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