Honeyswap alignment with Gardens

[eenti]

It’s not a mystery to any of us that, at least at a community level, there’s a certain feeling that some things aren’t going as they should and I think it’s because we’re seeing how some of the folks with more experience and more appropriate skillsets for a DAO like ours aren’t as active as before or are leaving, while the rest of us feel lost as to what to do without having much knowledge or skills.

In the last conversation I was involved in I realized we underestimate ourselves, because it takes less than we think to make things happen, and that’s why I’d like to advocate for what I think could be a resource-efficient and smart movement from our side.

Honeyswap as a liquidity tool for Gardens DAOs

DeFi is a pretty crowded space already and seems to be a never-ending fight, however many things related to it, such as liquidity, are absolutely essential for any DAO. Instead of leaving Honeyswap behind like I feel we’re kind of doing, it should focus on those DAO essentials.

From now on, Honeyswap’s direct intention or efforts wouldn’t be directed towards pursuing TVL or volume, but to add value to DAOs within Gardens and perhaps other DAO platforms. One of the advantages of designing products that work together is that the work of some ends up adding value to the others, so once this honeyswap review is deployed, any effort by say the Gardens Swarm to onboard more communities will result in honeyswap acquiring benefits too.

One example is BrightDAO, which at launch they did their own farms, and well they were made using Honeyswap LPs, but they could’ve used any other DEX.

If Honeyswap provided more value for DAOs it would be a no brainer, which at the same time would increase TVL and volume.

Perhaps within gardens or tulip swarm we could keep in touch with networks to provide matching rewards in honeyswap for LPs of communities based on some metrics TBD.

Swap

For the app I guess we don’t have to do much, though a small UI redesign would be ideal to reinforce the UX across Gardens, Honeyswap, Celeste, etc.

Farms

To fulfill the proposed goal of Honeyswap, we would ideally want to have farms like Swapr’s (not sure if that’s something we can fork) where Garden DAOs could incentivize their own liquidity in a no-code way, just as Gardens are supposed to be created.

I’ve been thinking about the possibility of deprecating the COMB tokens and using Honey for rewards under a similar scheme. Right now, half of the protocol fees are used to buy COMB and distribute them in the farms, the problem is that with a new token you have to work more to give users a reason to buy or hold instead of dumping it.

The share of protocol fees destined to COMB could be used to buy HNY and distribute that HNY in the farms, in the end is the same amount of money distributed but HNY already has more use cases, and would provide members of other Garden DAOs with some voice in 1Hive.

However, we don’t have to be directly involved in farming allocating a fixed percentage of all volume, the community could independently be in charge requesting funds in the honeypot whenever they want to create double reward farms with other DAOs we are interested in.

We could even have COMB/HNY based farms running just as we do now plus the community incentivizing extra pairs on the swapr-like DIY Liquidity Mining.

Protocol-owned liquidity

The concept of protocol-owned liquidity is quite interesting and seems to be somewhat popular with Olympus Pro, where users can exchange LPs for discounted tokens. I think it would be a good idea to eventually contemplate the development of something similar to be included in Honeyswap so that Gardens DAOs can use the tool.

What benefits would this have for our community?

Simplicity first. By not having to try keeping up competing in the DeFi space, this would be a matter of develop, deploy and maintain (which from what I understand this is really low maintenance) and that’s it, furthermore, if we are aligned with other projects in the community the effort to grow is less, or rather shared.

And well, although I’m not sure, I guess the hardest part is already done, which is the fork of uniswap deployed and working. And AFAIK a V2 is probably more than enough for this, so no need to R&D on Honeyswap V3 unless eventually the community wants to, of course.

If my assumptions are true, this shouldn’t be that expensive to make.

What would be necessary

• Redesign of the landing page to be clearer and with a similar UI to Gardens and our other products
• Redesign of the app interface, keeping the familiar feel of most uniswap v2 forks but bringing it closer to the 1Hive UI designs.
• Make the DIY Farms (can swapr’s be forked?)
• Eventually an Olympus Pro kind of thing?

What problems are we facing?

• What to do with the current farms, do we keep them alongside the swapr-like ones?
• Lack of expertise from my side to properly lead the whole project even though I’m down to do it anyways
• Lack of skilled members in the community though with the right incentives I’m pretty sure we should be able to find some folks down to work on this

---

These are just a couple of ideas that I think are worth at least a discussion, I hope to see what everyone thinks of this and discuss possible steps to get this started.

If there’s enough community support for this, I would appreciate a lot someone who would want to lead, co-lead or at least act as an advisor as it’s honestly a bit overwhelming just to think about how to start working on this lol but I’m definitely down to put all my available time and my little knowledge to make this happen.

[mrtdlgc]

Thank you for your great and insightful idea!

Honestly, I kind of feel that almost everyone at 1Hive would have a similar idea, if not the same. Using our Honeycomb farms to incentivize other like-minded DAOs to bootstrap their liquidity on Honeyswap would definitely the best approach that 1Hive can follow. (As our slogan goes, Together We Thrive!)

In addition to your suggestions, I would like to add something else as well. We have been acting as if Agave was not part of 1Hive. However, I just want to remind that Agave was born out of 1Hive. And even though Agave is a DAO on its own, we can always strengthen our ties. Hence, what I want to propose is that we may be able to incorporate Agave to this alignment initiative, and maybe offer a place to DAOs hosted over our infrastructure (Gardens, Honeyswap, Honeycomb).

Just throwing out an example idea now, thinking from a marketing perspective. We can reach out to certain well-established DAOs and offer them to provide their token collateral status on Agave, on the condition that they provide a certain amount of liquidity (here I want to refer to protocol-owned liquidity through Olympus Pro) on Honeyswap. At the same time, we can also offer Comb or HNY rewards on our Honeycomb Farms.

So, what I am saying is that we have all the tools that is necessary to realize this alignment throughout entire 1Hive as an ecosystem (maybe, we might need to fork Olympus, but I know someone among us is in direct contact with them and they seem willing to deploy on xDai as well).

Thanks again for initiating the discussion. I have been meaning to write a similar one, but was being too lazy

[eenti]

@mrtdlgc

Honestly, I kind of feel that almost everyone at 1Hive would have a similar idea, if not the same. Using our Honeycomb farms to incentivize other like-minded DAOs to bootstrap their liquidity on Honeyswap would definitely the best approach that 1Hive can follow. (As our slogan goes, Together We Thrive!)

Hey yeah sure! The idea of incentivizing other DAOs was already expressed on Luke’s Farming and allocation points but I feel some mistakes were made on the design of the farms so I feel like right now we’re sort of trapped(? we have to find a solution to that, at least with xComb we have no room to include more pairs and there’s no clear path about how to change them and no one seems to be wanting to lead and face the problem.

Though what I’m really trying to aim for is providing DAOs with tools to make such incentives without us having to be involved, we can’t cover every DAO so the ones left out of our farms are going to have to make their own and in that case we should offer something to make them more attractive to farm with us instead of other major DEX.

I’d also want to have a more unified UX across Honeyswap so ideally farms should be within the same page (even if they’re duplicated also on Honeycomb), I’m not really comfortable with having all these interfaces and webpages and seems to me like more maintenance efforts are required. IMO we should leave Honeycomb behind and eventually work on it again once all products are more polished or ready and makes real sense to have an unified interface.

@mrtdlgc

We have been acting as if Agave was not part of 1Hive.

About Agave, yeah, I can agree to that. I’m sorry I really didn’t mention it but to be honest there’s a lot I don’t understand about DeFi or finance in general and Agave, Aave, etc. are a bit more complex and really haven’t put down the time to understand them properly so I usually rather not talk much about it hahaha.

@mrtdlgc

So, what I am saying is that we have all the tools that is necessary to realize this alignment throughout entire 1Hive as an ecosystem (maybe, we might need to fork Olympus, but I know someone among us is in direct contact with them and they seem willing to deploy on xDai as well).

And yeah, this is how I’ve been feeling lately, I was quite discouraged because I thought I wasn’t able to do much, but we have some really skilled folks and funds in case we need to get more people onboard, so the only thing left is the community agreeing on what they want, and that process is something any of us can make happen

[cryptoclip]

I really like this idea

[cryptoclip]

I think the farms on xdai are dead because xdai is too low volume right. Would it be better to launch honeyswap on arbitrum, then honeycomb on arbitrum, then partner with other daos on etherum to launch farming pairs that pay perhaps a combination of their token + ArbComb or something?

ArbComb must have some sort of utility BEFORE launching - xcomb was talked about having Jelly but that never happened, so both xcomb and pcomb are just a hyperinflationary rewards token that has no use case or value.

This is all dependant on if this is the way 1hive wants to go - it’s not really a “common goods” use case, but is a use case for growing TVL and adoption of honeyswap. This might be able to lead to new users being onboarded to gardens or agave possibly

[eenti]

@cryptoclip

I think the farms on xdai are dead because xdai is too low volume right.

We left no room on the farms, particularly xDai’s, to offer other DAOs a spot there. Not to mention they aren’t designed to support double token rewards (e.g. the initial Fox-1Hive partnership would’ve been extra work to accomplish or not possible at all). Wether xDai is dead or not, we can’t put all the blame on them, design and logistics for xComb seem to be somewhat complex and not flexible at all.

About Polygon for example, pComb has some room for collaboration (although it doesn’t support double token rewards either) there’s a ton of TVL on the network but we act as if the deploy on polygon did not happen with the excuse that “we can’t compete” and based on that statement we won’t be able to compete either on Arbitrum so we gotta stop blaming our current situation on others when clearly we didn’t prepare Honeyswap for the integration with other DAOs, which is what this post is about.

Not to mention that having permissionless DIY farms would be ideal, I don’t think we want or need to be the primary source for DAOs to rely on when trying to incentivize liquidity on Honeyswap.

If it were easier I honestly would rather give up COMB tokens, it seems to me that building utility for them is an effort we aren’t and really never were willing to take. But yeah, we can have 1Hive-controlled farms with COMB and DIY farms as a bonus.

[ceresbzns]

@eenti

Lack of skilled members in the community though with the right incentives I’m pretty sure we should be able to find some folks down to work on this

In my mind, this cuts to the heart of the matter. If 1Hive wants to retain skilled contributors then it needs to offer people a compelling reason to work on 1Hive projects.

If it would be useful, you’re welcome to adapt any notions I put forward in my writings on the subject of how to overhaul Honeyswap farms or reward contributors.

[metaverde]

At the moment I have just picked up kitchen shifts, because I can literally may 20% more doing kitchen prep than I can project managing in the DAO space, and with a lot less headache.

#WhyTheWorldWillNeverChange

My dm’s are still getting bombarded with complaints about Alvins.
Um, you’re getting Alvins AND plushies.
You’re welcome?

Also, I spent months and months on a project, received several $k worth of coinage, but there’s no liquidity for it yet and they’re still debating how long to vest it. They’re talking years.

Sigh.

And also, everyone complains when we actually use the money we’re paid.
But the stated goal of the DAO construct is to provide value so that people can dedicate working in this space. But then we aren’t supposed to pay our bills?

[metaverde]

@eenti

Lack of skilled members in the community though with the right incentives I’m pretty sure we should be able to find some folks down to work on this

I’ve worked on this, then been accused of planning to misappropriate funds, been told the developers I brought on weren’t important, then had to give up multiple weeks’ pay to make sure the developers in Tulip swarm were paid in a timely manner.

I’m trying to think of a nonviolent communication way to express all that.
It’s failing.
May edit later.

But yeah, seems like you should be able to find people to work on this, except the people that already have have been shat on pretty hard. Not just me.

[Ebun]

I love this idea

[Ezuwore]

The app is quite fine I’d say but a few touches to it won’t be bad

Lack of skilled members may not be entirely true because personally I feel the 1Hive community wouldn’t hire or have inexperienced members in her community. And more social media awareness. We should be having more followers and awareness on the media.

[metaverde]

Lack of skilled devs is definitely a problem.
Lack of devs period, really.
That doesn’t mean we don’t turn out a good product. It just means it takes longer and possibly could be more elegant.

[cryptoclip]

How many devs are still in honeyswap? I would say there might be enough devs, but they are spread across too many swarms/priorities to have effective organization towards a goal. The dev resource is spread too thin, and too wide for anyone to know wtf they are doing, or meant to be doing, so little progress is made. I get that people want to work on different things because they find this swarm more fun or relevant or that fun. But if 1hive has a “common goal” or “common good” then the hive could band together to get something completed then work together on next target.