Now that Honeycomb is live and there are proposals up for three different farms, I wanted to take the time to explain how people can create farms and funding proposals for any pair on Honeyswap.
This guide also serves as a means for the community to evaluate farm funding proposals.
Anyone can create a farm for a pair on Honeyswap. This means that the community decides what pairs should be incentivized in order to maximize the utility of Honeyswap, making Honeycomb bottom-up as opposed to top-down.
Creating a farm
- Go to the Create Farm page on Honeycomb
- Unlock your wallet
- Enter the Honeyswap pair address for the farm you want to create
- Click “Create”
Note: It might take a few minutes for the farm to show up on Honeycomb, even after the transaction is included in a block.
Creating a funding proposal
- Go to the page of your newly created farm
- Copy the funding address on the page
- Go to Honey Pot and create a new proposal with these parameters:
- Proposal Type: Funding proposal
- Proposal Title: Something descriptive, e.g. “Funding proposal for A-B pair on Honeycomb”
- Requested Amount: The amount you want to request for the farm
- Beneficiary: The funding address for the farm that you obtained in step 2
- Link: A link to a forum post under the Proposals category that explains what your proposal is about, and the rationale behind why the community should fund your farm for the requested amount.
- Click “Submit”
Transferring funds from the proposal to the farm
Once the proposal has passed, and the proposal is executed, the funds will end up in the balance proxy of the farm, not the farm itself. This is due to a technical limitation with the farms.
To transfer the funds from the balance proxy to the actual farm, go to https://blockscout.com/poa/xdai/address/<funding address>/write-contract
.
For example, if the funding address for your farm was 0x2dF0Af12DB95f16c33f496461bB2E38B1C860227
then you would go to https://blockscout.com/poa/xdai/address/0x2dF0Af12DB95f16c33f496461bB2E38B1C860227/write-contract
.
Once there, connect your account and click “Write” next to the method named transfer
.
Congratulations, the farm is now funded!
Evaluating a farm funding proposal
Here is a quick checklist for evaluating a funding proposal for a farm:
-
Is the beneficiary a
UnipoolBalanceProxy
contract?
Go to Blockscout and look up the address that will receive the funds if the proposal passes. Click on the “Code” tab. If the contract name is not “UnipoolBalanceProxy”, then the funds might end up in the hands of a person you cannot fully trust to send the funds to the farm. -
Is the
UnipoolBalanceProxy
connected to an actual farm?
Go to Blockscout and look up the address that will receive the funds if the proposal passes. Click the “Read Contract” tab. Click on the “pool” address. If that address is not a “Unipool” contract, the funds might get redirected to an account that is not a farm. -
Is the rationale behind funding the farm good?
Read the forum post in the proposal! Use your best judgement, evaluating both the pair that the farm will incentivize, but also the requested amount.
Bonus: Making your farm look cool
To make your farm look cool, i.e. adding an icon and a custom name, open up a GitHub pull request adding the relevant information in this file.