Adding HNY-AGVE LP on Honeyswap

🌿 Proposals
#1

Proposal description:

https://1hive.org/#/proposal/130

UPDATE: In return for the HNY 1hive will receive 5% of the agave token and recommended that it be used for staking.

The Agave team is requesting 58HNY to establish a 50HNY and 10,000AGVE liquidity pool pair and to repay the cost to hire honeypooh (8 HNY @ $625 = $5,000)

  • due to recent high volatility in Honey price 5day moving average $625 was selected

Assuming current listing price of HNY at $625 this would set liquidity of the HNY-AGVE pair at $62,500 or an AGVE token price at $3.125 each.

All the HNY-AGVE LP tokens will be held in the Agave DAO. We do not want to burn these LP tokens because of Agave’s fixed token supply and because we do not want to lock permanant liquidity on the xdai network.

The Agave token holders will decide how these tokens can be used in the future. Some possible solutions for the HNY-AGVE LP tokens, we can:

  • Burn LP tokens
  • Place LP in a time lock for 6-12 months to give investors trust in the longevity of the partnership
  • Airdrop the token after total pool share becomes <10% (or some arbitrary amount)

Proposal Rationale

At Agave Token Launch there will only be 8,000 tokens in circulating supply because all tokens will be locked in a vesting contract or temporarily held by the Agave DAO waiting for funding proposal(s).

Supplying 50HNY and 10,000AGVE in liquidity to the Honeyswap HNY-AGVE token pair will establish liquidity in the market so buying of the AGVE token can occur same day the token launches.

Funding Information (For Funding Proposals)

Ethereum address where funds shall be transferred:

Agave Aragon DAO
Agent Adress: 0x842814fb5d61caafaca786076fbaf4e0bf39dc7b

Amount of HNY requested and how funds will be handled and used:

  • 58HNY Total

References

AGVE Token Launch
Wiki weekly recap Agaave section
The Agaave Token
Announcing Agaave, Aave on xDai

Thanks to those who helped put this together and review:
@willjgriff @boring877 @gabi @lkngtn

Note: this is the only Agave proposal for HNY. No other HNY was requested for work.

34 Likes
Informational Only - Proposal for an AGVE LP Contract Drip
#2

See you on Mars! Let’s go!

4 Likes
#3

I didn’t know they have Agave plants on Mars. /s

To infinity and beyond.

3 Likes
#4

Well thought out. Wonder why the link to the honeypot page isn’t set up yet.
Keep building guys!

1 Like
#5

Love it! Great work guys
is the proposal up for voting yet?

1 Like
#6

Everyone get ready for mission called - AGVE :rocket: :new_moon:
I can not wait for token launch and platform :clap:

2 Likes
#7

Bring it on I am ready to borrow and lend … to the nebulaaaaaa

1 Like
#8

Proposal will be posted on honeypot shortly. Just waiting for any feedback before we submit

4 Likes
#9

Sounds great! Let us know when it’s in the pot for voting! :slight_smile:

#10

Great project, I look forward to participating!

#11

And where can we vote for this?

#12

Awesome work on all this guys, very well done and super excited for the launch

#13

Set up a proposal here for 56 HNY: https://1hive.org/#/proposal/130

This is 50 HNY for the LP, and 6 HNY to pay back the $5k usd to honeypooh.
the 6 HNY part is slightly more than if we used current price of honey, but I added an extra 1 HNY to account for potential volatility. Any extra HNY that is not needed to pay honeypooh will be retained in the agave treasury.

The funding address is the agent address for the agave Aragon DAO: https://aragon.1hive.org/#/0xee732cfcfea77eb96c0ccf859cb7bf6125a2f861/0x842814fb5d61caafaca786076fbaf4e0bf39dc7b/

2 Likes
#14

Please verify the proxy contracts implementation on block scout.

#15

Should we consider locking AGVE and/or HNY-AGVE via Unicrypt? (different proposal but while we’re here…)

#16

The time lock option eludes to this or a similar platform. It’s still an open decision though. Thanks for suggestion

#17

Thanks for the answer. I also see it as an opportunity to make live the xDai ecosystem and encourage interactions

2 Likes