Proposal will be posted in next 48hrs
Proposal description:
Minimal investment opportunity for a marketing proposal with positive upside for xdai and corresponding protocols interested in co-marketing with elk finance.
Elk finance was just rewarded $125,000 in $STAKE rewards to incentives liquidity providers and thus liquidity flow to xdai. Elk is a burn and mint bridge migrating to decentralized node operators which allows liquidity flow from any of the networks they are currently operating on over a dozen supported networks including; ftm, matic, avax, bsc, moonriver, xdai and many others. Elk is using the $STAKE rewards as an opportunity to ignite some cross marketing exposure by asking protocols if they are interested in partnering in this program.
Proposal Rationale
Elk finance’s presence on multiple networks provides this as an opportunity for exposing xdai protocols to crypto enthusiasts on other networks other than just xdai. Any amount is acceptable, the time period and matching amounts are based on initial amount provided along with analyzing trading volume.
Expected duration or delivery date (if applicable):
The idea is $STAKE is rewarding xdai-elk and stake-elk pools. $ELK is rewarding all other pools at a rate to maintain approximately 100% APR.
Sharing of comarketing will occur in advance share all potential partners involved.
1.) Dates are still TBD but it is estimated that on Wednesday Nov 17 farms will go live and Agave will begin double rewarding the ELK single side staking for 24hrs (aprx $750).
2.) After 24hr period The AGVE-ELK pair will be Dual rewarded ELK + AGVE.
3.) An AMA with ELK community will take place potentially on Nov 18th to educate the ELK and Agave community on the farms and the protocol.
4.) dual rewards will extend for months for duration of funds and may receive additional boost from ELK depending on trading volume from partnered pairs
Team Information (For Funding Proposals)
Stonky, Twells, Monstro, Paul
Skills and previous experience in related or similar work:
All very active in 1hive and agave >6 months
Funding Information (For Funding Proposals)
Amount of AGVE requested: 23 AGVE ~ $5181.22
$750 to fund single side staking for 24 hrs
$4250 to fund the ELK-AGVE pair at a rate of 200% APR (approximately 2 months)
remaining $181 for design/tweets that are needed
Ethereum address where funds shall be transferred:
0xAd1a1BEaD64D0877bE2f014d6516735988979A88
More detailed description of how funds will be handled and used:
Team will distribute tokens to the contracts as/when needed.