Proposal 73 → Gardens
Proposal description:
Requesting $5k to incentivize the dehive indexes for 1 month, call it a trial or a warm welcome for deploying on gnosis chain. All the other protocols appear to have an unofficial acceptance of contributing their respective share amounts, see image below for each protocols proposed amount.
About DeHive
DeHive (https://dehive.finance/) is building decentralized indexes with yield farming. They have approximately $1M in TVL currently on Ethereum, Polygon, BSC, and recently they deployed 2 indexes on Gnosis Chain.
As always DYOR, you can learn more about DeHive’s Roadmap here and below is some quick notes I took for pros and cons just if you wanted to know.
What I like:
- buying the indexes buys the tokens in the indexes on existing exchange so even if you hold the token it still puts buy pressure on the tokens.
- its not another dex thinning out liquidity. it uses existing exchanges
- GNO supported/incentived each index a total of $5000 / mo.
- DHV funded rewards
- It appears to be mostly original UI, not another defi fork
- Multichain, they have a fair amount of partners, more exposure
- All the projects involved in the $HNY index seem to be supportive of contributing their respective share (except for $LINK ofc, see image for amount requested)
Worth mentioning
- It looks like ELK routes through elk.finance and the rest through honeyswap. I don’t believe symm has the deepest liquidity on honeyswap router so this may create more than ideal price slippage.
What I don’t know
- I don’t know the team, some other buzzdao said they had a call with them and they seemed professional for what thats worth, again DYOR. (briefly mentioned in monthly recap)
- I don’t know the safety of the contracts, afaik I haven’t seen any of our devs take a look into it yet.
Expected duration or delivery date (if applicable):
Dependent on this proposal passing/executing. The index is currently live for the past month and staking has bein paying out GNO & DHV rewards
Funding Information (For Funding Proposals)
Amount of HNY requested: 15 HNY ~$5k
Ethereum address where funds shall be transferred:
0x8B268a75c14c4b9f68afba1f9D66e8E56f45D65f
More detailed description of how funds will be handled and used:
10,000 DHV, 11.4 GNO, and 42,165.81 MIVA have already been sent to this address for distribution