Proposal Title
Honeycomb liquidity incentives LINK-WXDAI pool
Honeycomb liquidity incentives LINK-WBTC pool
Honeycomb liquidity incentives LINK-WETH pool
Honeycomb liquidity incentives LINK-HNY pool
Proposal Information
Proposal description:
This proposal will fund four major LINK pools:
- “Daimond Chains” pool * that holds the
LINK-WXDAI
pair with 75 HNY - “Office Affairs” pool that holds the
LINK-WBTC
pair with 75 HNY - “The Gassy Oracle” pool that holds the
LINK-WETH
pair with 50 HNY - “Hive Mind” pool that holds the
LINK-HNY
pair with 25 HNY
If you didn’t get the last three names:
Office Affairs (BTC = the accountant, LINK = the secretary)
Gassy Oracle (one meaning for the word Ether is air)
Hive Mind (Hive = HNY, and Mind represents the Link between bees in a hive)
Proposal links :
- Proposal #16 (LINK / WXDAI)
- Proposal #17 (LINK / WBTC)
- Proposal #18 (LINK / WETH)
- Proposal #19 (LINK / HNY)
Proposal Rationale
Chainlink has taken the crypto market by storm, and still has an even brighter future ahead of it. LINK is bound to be a top token for a long time, including throughout the coming/present day bull-run. Trading volume for LINK pairs is already immense and likely to increase tremendously as the market matures.
With Honeyswap’s edge over Uniswap (low fees and fast transactions), it could capture a large part of that volume by attracting and incentivising users to trade on the platform.
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: 225 HNY
Ethereum addresses where funds shall be transferred:
0xb8e1dD6FAff8613c49Fa7A99436A7F3415271566
- 75 HNY (LINK / WXDAI)
0xc55Ce1549F640D91BbCa3c2837B717a372fF7cbd
- 75 HNY (LINK / WBTC)
0x86991ba851F5aE002B15826C0348E2bDB6D3a89c
- 50 HNY (LINK / WETH)
0x0F2B69321DDf6BFC280711134be7ed629Ad2e549
- 25 HNY (LINK / 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 .