Honey Particles (PRTCLE farm)

PRTCLE Posies

Proposal Information

PRTCLE farm on honeyswap.

Proposal Rationale
PRTCLE is the first token, other than HNY, entirely bootstrapped on Honeyswap. A lot of HNY hodlers overlap with PRTCLE. We at Shenanigan have been seeing amazing success with our Liquidity Mining Program (you can check the nearly exponential growth here), and many are hungry to stake their LP tokens. Receiving HNY as a reward could potentially incentivize the HNY/PRTCLE pool.

Honey particles sound delicious:yum:

Expected duration or delivery date (if applicable):

N/A

Team Information (For Funding Proposals)

Shenanigan

Twitter: https://twitter.com/She_Dapp?s=09

Skills and previous experience in related or similar work:

N/A

Funding Information (For Funding Proposals)

150 HNY
25 HNY

Ethereum address where funds shall be transferred:
Farm address

More detailed description of how funds will be handled and used:

Distributed through the farm

Here’s an excerpt from the whitepaper:

A mobile-frontend service for buying, selling, trading, and gaming provably rare sports trading cards. Athletes on Instagram, Twitter, Twitch, Youtube, etc can issue their own series of trading cards to capture their image and personal growth. These cards are secured with blockchain technology and carry provable uniqueness, i.e each card is its own and cannot be replicated. Cards can be bought/sold/traded in the Shenanigan app, on OpenSea or anywhere that accepts ERC721 standard NFT tokens.

Shenanigan offers a LivePeer livestream for athletes to promote themselves and their cards. Athletes set challenges to complete on stream, and show off their personal growth. Users can stake Shenanigan cards against one another on predictions of the results. Correct predictions receive the staked cards.

20 Likes

I am already farming a pair with particle.
And yes indeed Particle performance is really impressive

I have to give you lots of credit for that, because you make getting involved with particles so familiar and smooth.

Keep the great work

3 Likes

I’ve seen some people asking about HNY/PRTCLE pool on discord. And i am also already farming a little with that pair :+1:t2:

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Some of my friends who work with HNY / PRTCLE have also been asked about these .
And i am also already farming a little with that pair

I am enthused by the prospect!

1 Like

I’m already providing PARTICLE-XDAI liquidity. I really love the project. Would love to see also hny-particle in honeycomb

1 Like

Farming a PRTCL pair currently does not yield any rewards, that’s what this proposal would be for.

Although I do agree it would be good to reward users of tokens that are native to xDai I do think that the size of the proposal is too large. The size of this proposal is 50% larger than the wETH-HNY proposal which is a very important pair for increasing adoption on the platform. Funding a pool like PRTCL-HNY also spurs adoption but not at the same rate that the wETH-HNY pair would.

4 Likes

Also agree with @Jasper, I also like the project and the proposal but 150HNY seems too big for me rn. I think 50-25HNY for now is reasonable and to get new and old HNY holders to get interested in Particle, IMHO

6 Likes

We had an awesome LP amount for the $PRTCLE so far, it will be a great reward for the holder to be able to farm as well, 100% into this proposal.

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Yeah I believe I misinterpreted the average size of pools. I think 50 is far more appropriate

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Yup, I think 50 is fair enough. Anyway @YoungKidWarrior really love your project keep it up, looking for the app launch.

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relamente seria genial poder cultivar HNY con el par PRTCL-HNY ! espero que sea pronto, saludos y buenas vibras para todos

Could you explain what PRTCLE is? I’m unsure if bootstrapping a token with liquidity using 1hive’s common pool funds is a good idea without knowing the tokenomics at all. :slight_smile:

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I don’t see the point of 1hive funding the liquidity of a token that honeyswap doesn’t need to operate. The process for this sort of tokens is that they create their own economics to fund their own liquidity farms.

I think a better approach would be to improve the farms we have right now to support any custom token as a reward for farming. This way tokens like PRTCLE could fund their own farm, while still being in the honeyswap and hny.farm ecosystem.

A last note: Please introduce what PRTCLE is and the project behind it in this type of post, since not everyone is familiar with what PRTCLE or other lower cap tokens that aren’t widely known.

3 Likes

I was farming this pair even though there were no returns on farming.
I am very positive with this low cap project as community for Shenanigan is growing very fast and expecting real value for this token pretty soon :slight_smile:

also @luigy

My reason for creating this forum post was because there has seemingly been a large amount of interest. Since PRTCLE is the first token completely bootstrapped on Honeyswap besides HNY itself. A lot of users overlap.

I figured 1hive received some rewards from the farms, but if that’s not the case, I’m sure there is a discussion to be had about mutual incentives. :slight_smile:

1 Like

Totally agree with @luigy. Not much information about PRTCLE and is better for everyone to finish the work for the current honey farms.

We’re currently number 7 on honeyswap.

PRTCLE is the Shenanigan DAOs governance token, distributed using SourceCred. It’s used in various places in the Shenanigan app as well, for example, staking it inside NFTs.

I think the main drive to do this is to create a closer bond between the 1hive and Shenanigan communities. xDai is pretty small, so the more incentives drawing people in, the better. I figured farms gave returns to 1hive, but if not then we should talk about more ways Shenanigan can offer a helping hand to 1hive

3 Likes

Big regards to all; supporting Shenanigan (PRTCL) and encouraging the community to vote in favor of funding the proposed farm. Sometimes the projects are a technical and human complement, in her short time of life shenanigan is demonstrating to have these two pillars. It is not only a project from the technical side, its DNA is transforming human lives, this makes it more valuable. :herb:

Farms are a subsidy for LPs that may or may not result in sustained adoption and trading activity on honeyswap, it definitely does not provide a return for 1hive directly. Any proposal that takes honey from the common pool is an outflow or cost to 1hive, and should be looked at similar to an investment where we want each proposal (on average) to create more total value for the community than is lost, otherwise 1hive will not be able to grow or sustain itself.

Essentially, farming makes sense for 1hive if we can bootstrap enough liquidity and volume on honeyswap that as the subsidies eventually decrease there is still enough liquidity to attract enough volume in order to keep liquidity providers around (due to profits from trading fees alone). The theory essentially is that liquidity begets volume begets more liquidity, and farming allows us to subsidize the initial liquidity needed to start that cycle.

So we want to be strategic with farms that we choose to subsidize, because we want to attract enough liquidity and sustained volume, that subsidies become less and less necessary, eventually getting to the point where the 0.05% of the swap fee that is converted to Honey and put in the common pool exceeds outflows.

Additionally, farms between Honey and other highly liquid assets (like ETH or DAI) are attractive candidates because they serve a dual purpose in that they help to provide liquidity to the Honey token itself and make it easier to get into and out of positions in Honey which can help the community grow and expand.

I don’t think it makes a ton of sense to target the long-tail of assets that are not particularly liquid or have particularly high volume on other existing exchanges with farming rewards (and I would put PRTCLE in this category).

However, I do think one of the things we should consider is how we can help people creating tokenized projects on xdai succeed, and how we as a community can benefit from their success long term, because ultimately if xdai becomes a thriving and vibrant ecosystem in its own right, honeyswap will be the most obvious place for exchange since it is most local.

One way I have considered this would be instead of a proposal to provide honey as a reward to LPs, if a tokenized project wants to create a connection to 1hive, and 1hive wants to create a connection to the project (this probably depends on alignment of the community as well as the token economics and governance of the token in question), the way to do that would be to have the project put up a certain amount of their own tokens (eg PRTCLE) and then request a certain amount of honey from the common pool. these would then be used to provide liquidity and then transferred to the 1hive vault or the 0x0 address. This would create a permanent liquidity bridge between the tokens, and as the pair gets traded that liquidity would increase. When the token succeeds honey increases in value, and when honey increases in value so does the connected token, which ultimately helps align communities and encourage collaboration and positive-sum cross-pollination.

13 Likes