Further Discussion on HNY Liquidity Pair Proposals (Poll)

Even though we are most likely approaching the approval of the HNY-LINK proposal pair. This outreach is to assess specifically how much and which token(s) to pair with HNY. In case we approve more HNY pairs I wanted to get ahead of that potential approval with some further discussion.

I ‘think’ most are in agreement that we should have both HNY pair(s) and non-HNY pair farms, but the debate breaks out around how much and how many. This post is an attempt to focus strictly on the HNY pair(s).

As reminder we have the following active pairs

  • HNY-XDAI: 300 HNY
  • HNY-STAKE: 200 HNY
  • HNY-ETH: 100 HNY
  • WETH-WBTC 40 HNY

Note: This post is meant to be used in addition conjunction to the previous liquidity pair proposal(s)
Added for additional Clarity: This month given we have 10 (4 of which are HNY pairs) proposals out there now, if we approve them all and you agree then your would support the total for the month would be 160 HNY (not an option but select please select best that applies)

How much HNY rewards should we provide total for all HNY pairs per this coming 30 day period?
  • 400 HNY
  • 250 HNY
  • 100 HNY
  • 40 HNY
  • Other

0 voters

Which sector(s) should we target the HNY pair with?
  • Market Leaders (WETH, WBTC, LINK, HEX)
  • Network Pairs (xDai, Stake)
  • Defi (DPI, YFI, Pickle)
  • Reddit (Brick, Moon, Donut)
  • You missed a sector (other)

0 voters

After vote depending on results I was going to see if we can narrow the sectors down further.
Vote target end date 11/5/2020.

In my opinion putting hundreds of HNY into farming pools that will only last a month would be detrimental to the ecosystem. The 40 I put up for each of my 10 existing proposals is already probably too much. APY is less important when you consider liquidity providers are already receiving rewards via trading fees.

I personally won’t vote on the provided numbers in this poll because I don’t want to encourage the consideration of putting 100+ HNY into more farming pools. It destroys the value of HNY when it is diluted in such an acute period of time and it is unnecessary to put this much of the common pool into short-term farms. I also don’t see why we would put more farms into the discussion when there are already 10 active proposals with multiple supporters, one of which may pass soon, and the community haven’t even completed their analyses to determine how much HNY is the right amount for each pool.

We shouldn’t be expecting to need farms once we have amassed enough liquidity.

2 Likes

I agree, I think I made a huge typo this wasn’t meant to be in addition to what is already out there but in conjunction with. For example we already most likely have 40HNY going to HNY-LINK. what is the total we want. 40 (so just to have the HNY-LINK approved and no others) or could we support a few more.

I am concerned people are just going to pass a bunch of these 40HNY proposals that were put out and I think they are too much as is so what is the TOTAL amount of HNY we plan to supply to the HNY pairs this month given we have 10 (4 of which are HNY pairs) proposals out there now, we can’t approve them all imo. Under that proposal the total for the month would be 160 HNY.

hello (´ ∀ ` *)

Thank you for your work Richard , i think we give alot of hyn each week .

here is total what we gave

50hny pollen each week (50*7= 350hyn) i believe cred been running for 7 weeks

640 hny Farm

faucet 429.24 hyn . and there is 215.27hyn ready to go

Total = 1633.51 hyn .

1633.51hny *726$ (average price ) = 1,185,928.29$ Community got from common pool

common pool has 6,957.24 hny , and farm require 650 each month . 650/6975 *100 =9.34% of common pool going into farm ,

and thats with only 4 farm @@

I agree with this. The more HNY that gets assigned to pools the more we dilute the value of HNY.
Adding to that if you have a number of strong pairs with HNY + market leader.
You are asking liquidity providers to expose risk to the HNY pair with impermanent loss.