Proposal Title
Honeycomb liquidity incentives xBRICK-WXDAI pool
Honeycomb liquidity incentives xBRICK-HNY pool
Proposal Information
Proposal description:
This proposal will fund the two (most) active xBRICK pools:
- āāBrickā Mike Daisonā pool * that holds the
xBRICK-WXDAI
pair with 75 HNY - āHoney Glazed Brickā pool that holds the
xBRICK-HNY
pair with 50 HNY
(* āBrickā Mike Daison is a play on āIronā Mike Tyson)
Proposal links :
Proposal Rationale
note: Iāve taken into account the popularity of Fortnite and its subreddit, and the fact that Honeyswap is the one and only place to buy or sell xBRICK tokens. The results for Redditās scaling competition will be announced soon and xDaiās success putting Moons and Bricks on the blockchain will be one of the bigger storylines.
I am using the āEther Eucalyptusā pool that holds the HNY/ETH pair as a tool for comparison. This pair is set to be approved for 100 HNY in about 28 hours.
Liquidity
HNY/ETH: $16,536
xBRICK/WXDAI: $9,761
xBRICK/HNY: $2,477
Volume
HNY/ETH: $1,082
xBRICK/WXDAI: $7,140
xBRICK/HNY: $942.71
The xBRICK/WXDAI pair tops the Ether Eucalyptus pair with 7x in volume, but it is slightly lower in liquidity. The xBRICK/HNY pair has low liquidity compared to the HNY/ETH pair and is roughly equal in volume. With the HNY/ETH pair set to be approved for 100 HNY, I believe it is reasonable to request an allocation of 75 HNY for the xBRICK/WXDAI pair and 50 HNY for the xBRICK/HNY pair.
Also, on a more general note:
Liquidity incentives have proved to be an excellent tool to attract more participants to a network and grow the liquidity of assets involved. For the 1hive community and the Honey token the incentives play a key role to keep experimenting with circular economies. Honeyswap success is coupled to the Honey economy as a portion of every swap fee flows back to the common pool to fund further community proposals.
Expected duration:
The proposal will fund each pool for the first month. The continuity of the farming program will depend on further proposals to pass in conviction voting.
Team Information (For Funding Proposals)
This is a proposal by rearnakedbloke (Discord/Discourse).
Skills and previous experience in related or similar work:
not applicable
Funding Information (For Funding Proposals)
Amount of HNY requested: 125 HNY
Ethereum addresses where funds shall be transferred:
0x3E02a694eE8d624A40c28b8E2c61C8227118507c
- 75 HNY
0x5A5751d26b86bbaE952c5b4Bd2554806DE838363
- 50 HNY
More detailed description of how funds will be handled and used: The funds will be sent to the UnipoolBalanceProxy
contract for the specific pool. Afterwards HNY will start being distributed to staked LPs on every block. LPs can claim their farmed HNY through hny.farm .