Marketing Thoughts

[Monstrosity]

I would like your opinions on partnering with others to split some of the cost of giving honey for liquidity providers.

Preferably starting with our network community xdai net tokens. We could have a group of people work down the list, doing a bit of research looking into some key contacts and then sending out a canned message before engaging in the ‘negotiation’.

This helps 2 fold: 1) they help with the incentive 2) they market to their community for us.

I already reached out to one community to see what kind of response I would get. Trips has extremely low liquidity, I don’t think it is really traded anywhere, their market cap 63,000,000 Trips x $0.19 = ~$10M. But they were interested.

I was thinking that we reach out to each of these communities/businesses to see if they want to do a partnership leading with some canned response such as:

To whom it may concern,
I am speaking out on behalf of the largest decentralized exchange on the xdai network, Honeyswap https://honeyswap.org/ ran by the 1hive community https://about.1hive.org/

We would like to partner with you to increase your exposure on xdainet?

The idea is we would match them some amount to provide a liquidity pair of either xdai-their token or preferably HNY-their token.

And a poll because I like them:

Confidential Vote: Should we try to partner the LP cost with other communities?

• Yes, but I would make the following changes (write below)
• No,
• Abstain

[befitsandpiper]

I like this idea, and I agree it is likely to be more valuable in the network effects and increasing 1hive community growth than us continuing to fund pools where the other token’s project has no skin in the game.

[lkngtn]

I think @YoungKidWarrior may be interested with particle, and Igor said he was also interested with Stake. Seems like we should figure out how to make some sort of matching program, or at least make it easier for xdai token projects to provide liquidity incentives on honeyswap.

[befitsandpiper]

I think we also need to make sure the matching is capped/throttled well. There should not be the assumption that we will match up to any amount. I’d assume the way it would work would be a proposal would be made for that particular project, the funds would be locked, then when a sufficient amount of HNY was added to that farm, the match would unlock and also be added to the farm.

[Monstrosity]

@lkngtn Awesome to hear those two maybe interested. that already puts us at 3 potential partners. that would be pretty big imo for adoption. We could really sell this to all the xdai tokens as an opportunity to really pull traffic away from mainnet. make one strong attempt.

Thinking more longer term it would be nice to make it almost like a marketplace where say xdai is interested in matching anyone. and say stake decides they are looking to match someone. We wouldn’t need to get involved they would just use our platform.

@befitsandpiper I left it open when discussing it with Trips.I said the following

“We would likely consider multiples of $1,250. I wouldn’t suspect more than $25,000”

I thought we could potentially do a 1 for 1 match for HNY pairs up to $5k, then 1 for 2 the next $5k, so on. If they want to do an xdai pair we could maybe do a reduced incentive or something to that affect.

[Eth_Man]

I had suggested this in discord some time ago.

These are prime considerations to account for:

@befitsandpiper

I think we also need to make sure the matching is capped/throttled well.

DONUTS ala r/ethtrader might be interested as well if we can come up with matching offer details. Right now governance there is only incentivizing DONUT/ETH so 1Hive would have to come up with what pair or decide what the matching incentive was. Unclear whether they would go for DONUT/HNY - hard to say. DONUT/xDAI may be possible though but not sure how matching HNY works there. Which brings me to other point.

Are we going to be incentivizing only HNY - TOKEN pairs or TOKEN-xDAI or what? I would also be careful of the amount of HNY to match with and consider a ‘vesting’ model of some kind on any/all of these rewards. I’d like to see HNY that is being matched locked for a time before it can be sold as this would ease selling pressure and force people to think more long term on HNY rewards.

Aka skip the drip and just do some sort of LP tracking algo and pay out a HNY-vest token that has a 1:1 match. Do these in monthly tranches since we will have to put HNY into a tranch vesting contract that releases after say 6mo or a year or something.

In fact that should be out LP reward payout model vHNY_LP_tranch via a drip and then the vHNY is locked until vesting period expires but is fully backed by HNY deposited into the vHNY_LP_tranche contracts.

[Monstrosity]

@Eth_Man , take a look at my response to sand directly above your post.

Long term all pairs could be incentivized by other communities, not us, via a “marketplace”. The honey we use to match others I think is temporary until we can get the marketplace going and as stated above we can match at different amounts (more if they are willing to do a honey pair and less of a match if they are only interested in non-hny pair matches)

@Kryptobi I do not like the locking requirement for farmers unless we make it voluntary and tie it to the staking discussion maybe only those who provide liquidity get to take advantage of staking via using their earned honey to stake. With fees only being .3% this would drive attraction to liquidity at the same time preventing a massive amount of hny getting staked.

I believe the drip is a huge competitive advantage over ethMainnet and we should keep it open and even market it. You can literally harvest $0.20 and reinvest, sell whatever. Now we can incentives those who choose the take their rewards and stake them.

[Monstrosity]

So it looks like a decent amount of the community is interested in reaching out to various other xdai communities. First step. We need to develop a canned message that everyone will use to start the conversation weather we reach out via email, discord, reddit etc we need something to engage the conversation. I got it started in the forum post please modify as see fit so we can get it just the way want it.

To whom it may concern,
I am speaking out on behalf of the largest decentralized exchange on the xdai network, Honeyswap https://honeyswap.org/ ran by the 1hive community https://about.1hive.org/

We would like to partner with you to increase your exposure on xdainet?

[rearnakedbloke]

This is dope, and could be very beneficial to all involved, as long as we keep a high standard.

I think PegNet could be a good project to link up with; moving onto the xDai network looks like a natural progression for them.

I could reach out and set something up if that’s what we’re doing. I’ve teased the idea in their discord a while ago and they seemed to like it.

[rearnakedbloke]

^ teased not the cost splitting between our projects, but the farm in general.

[Monstrosity]

Nice on the potential token. That puts us at 5 potential pairs. If it’s possible I think we can start with hny matching but we should quickly pivot to facilitating pairing unknown entities to create a marketplace. The problem is the Jane token may not have any interest in pairing up with the doe token. Baby steps first…

Do you have any input on the canned message? I am thinking once we have the message finalized I can start putting together a google docs and begin requesting people to begin “soliciting” to those on the list assigning their name, what was done, and next steps.

We also need to establish rules for how to negotiate an appropriate match. I personally can’t audit every token and so if they are wanting exposure and they have to provide us a locked up amount in USD I support matching pretty much anyone and don’t know why or how we would restrict “volunteers/applicants”. Ohh this reminds me we could have on the farms page a an “apply to have your token pair listed and we can potentially match up to x amount”

[rearnakedbloke]

I’ll post a message if I think of a good one

On another note, I believe xDai would be supportive of this if presented well; this could grow into a part of the incentive for projects on L1 to come to xDai’s L2.

Besides all the benefits xDai brings them, they also are offered a way to increase liquidity on L2. Whether that’s the projects paying half, or xDai itself contributing or any other form or combination, this could be a good way forward and automates the farming process as part of layer 2 project onboarding.

[Monstrosity]

That’s a good point; we can present it as a way to grow the Xdai network (see bold addition below):

To whom it may concern,
I am speaking out on behalf of the largest decentralized exchange on the xdai network, Honeyswap https://honeyswap.org/ ran by the 1hive community https://about.1hive.org/

In an effort to grow and benefit everyone on the xdai network we would like to partner with you to increase your exposure on xdainet?

[rearnakedbloke]

Perhaps some bees are able to coordinate this with xDai from the start

[rearnakedbloke]

@lkngtn what do you think sir, is that something we can try?