Proposal to fund the WETH-WBTC pair

🌿 Proposals
#1

Proposal to fund the WETH-WBTC pair.

Proposal Information

Proposal description:
As of today the farming period for the WETH-WBTC pair has come to the end, my proposal is simple, to extend this farming period and just repeat what was working with no changes, (in this case fund the farm with the same amount as before, 40 HNY).

Proposal Rationale
Detailed rationale for why this proposal exists and should matter to HNY holders, the 1Hive community, and/or DAO ecosystem

WETH-WBTC was the second biggest pair on the network (after HNY-XDAI), today the liquidity has plummeted 85%, this proposal would incentivize this liquidity to come back and help expand the network.

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Funding Information (For Funding Proposals)

Amount of HNY requested:
40 HNY.
Ethereum address where funds shall be transferred:
0xB8140a6A2A62F970aeED520bf7f51b3B188ED468 (WETH-WBTC funding address).

Let me know what you guys think!

#2

In my opinion it’s not a good idea.
Farming just ended and honey price went down already.
There are also other pairs available for BTC and ETH at the moment.

#3

No but…

Farm 3 Proposal meeting will be held at 11pm utc, 3pm pst, 6pm est on Thursday Dec 3, 2020 in cafe chat. All are welcome, I will get an agenda pinned in honeycomb chat before meeting.

#4

Will not be supporting putting 1/4 the entire amount we allocated to farming into a single farm again. Given the data from the last one I’m not sure if I support it at all. :slight_smile:

2 Likes
#5

I’m pretty over farming.

#6

Put simply. NO.

Regarding a 3pm discussion on a round 3 of farming. I will not be able to make that time. I am against all LP rewards except one at this point.

There is no reason to continue farms except on one single pair HNY-xDAI (on xDAI) and if we ever get a HNY representation on the mainnet I would like to see an additional LP reward there for PR purposes on the mainnetHNY-DAI pair and that is it. The goal of funding this pair is to reward people who already have and keep HNY-xDAI liquidity in Honeyswap to provide liquidity to ‘cash out’ to pay bills for work rendered.

We got virtually no liquidity and additional price decay with the 160HNY in the new farms (coupled to the 120HNY on the 3 still active) gives a 10HNY/day potential direct to market dilution causing a general 1%/day on average HNY-xDAI price decay.

I’d rather fund a proposal to get HNY on the mainnet, celeste (already funded), and infura upgrades, etc. than anything else at this point.