UPDATE
Rather than submit another post I am just going to up date this one. see the Agave proposal for reference as it is the same proposal.
Team Information (For Funding Proposals)
Stonky, Twells, Monstro, Paul
Skills and previous experience in related or similar work:
All very active in 1hive and agave >6 months
Funding Information (For Funding Proposals)
Amount of HNY requested: 21 HNY ~ $5,250 (price of hny on 7 day MA - 30 day MA all around $250/hny was used)
$750 to fund single side staking for 24 hrs
$4250 to fund the ELK-HNY pair at a rate of 200% APR (approximately 2 months)
remaining $250 for design/tweets that are needed
Ethereum address where funds shall be transferred:
3 of 4 multisig
0xAd1a1BEaD64D0877bE2f014d6516735988979A88
More detailed description of how funds will be handled and used:
Team will distribute tokens to the contracts as/when needed.
Co-Marketing with xDai and Elk Finance
Minimal investment opportunity for a marketing proposal with positive upside for xdai and corresponding protocols interested in co-marketing with elk finance.
Elk finance was just rewarded $125,000 in $STAKE rewards to incentives liquidity providers and thus liquidity flow to xdai. Elk is a burn and mint bridge migrating to decentralized node operators which allows liquidity flow from any of the networks they are currently operating on over a dozen supported networks including; ftm, matic, avax, bsc, moonriver, xdai and many others. Elk is using the $STAKE rewards as an opportunity to ignite some cross marketing exposure by asking protocols if they are interested in partnering in this program.
Why use elk finance for this and not just honeyswap or another dex?
Because elk finance is interested in supporting the work required to manage and execute this program which is mutually beneficial to all protocols. All that is needed from your project is the matching rewards + standard marketing of tweets, articles, videos whatever you are willing and interested in publishing.
The idea is $STAKE is rewarding xdai-elk and stake-elk pools. $ELK is rewarding all other pools at a rate to maintain approximately 100% APR. Elk will be partnering with as many protocols interested in providing some amount of incentives such as $5,000 which would dual reward the ELK staking token for only 24hrs ($750). As theses rewards begin to expire a 2nd partner will come in and begin to reward a similar amount of their token over same time period. At the expiration of the first token partnership incentive (for ex $AGVE). ELK will begin boosting the partnered-ELK pair for aproximatly 7-14 days. This will result in high APRs for the partnered token which will be observed by those staking the ELK token also while traffic significantly increases on the STAKE-ELK and xDAI-ELK pair. As new partners rotate through the program they would see these projects receiving high rewards and would provide marketing and network exposure.
Elk finance’s presence on multiple networks provides this as an opportunity for exposing xdai protocols to crypto enthusiasts on other networks other than just xdai. Any amount is acceptable, the time period and matching amounts are based on initial amount provided along with analyzing trading volume.
STAKE incentives could begin as early as next week and would be an optimal time for beginning these rewards.
Sequence of Events:
- Stake rewards go live for several days. As liquidity flows in this may benefit other farm pairs Elk may adjust rewards as needed to keep APRs ~100%
- Partnered project provides 2x boost to the elk staking for 24hr time ($750). Elk markets this
- On the same day a date for an ama is announced (1hive could tie in trivia during this time)
- on the same day a 1 page article talking about the partner is released.
- The next day the partnered-elk pair is 2x rewarded for aprx 1 month
- AMA during the 2x reward period
- ELK will continue to provide rewards for 6 months
- Elk will come in to boost up to 3x if liquidity and volume flows in
BECAUSE I LOVE POLLS
- None
- $2,500
- $5,000
- more
0 voters
