Total Value Locked strategy

🌱 Ideas
#1

Hey guys. As you now one of the most important things for an exchange, specially when it is starting, is to get as much TVL as possible. I suppose we all agree that we should seek to increase our.

During the last few days I have been researching deeply other dex exchanges in some other L2 networks & sidechains in order to get knowledge about how could we promote Honeyswap(editado)

For example I have been investigating some in working on Fantom, Solana and Avalanche networks

They are alll being quite successful at achieving TVL by carrying two common strategies: by promoting their farms with very high APR and what is more important, by offering an airdrop for the ones that provide liquidity on those farms for the next 2-4 weeks.

And they are reaching huge quantities or TVL by doing so, like 10-16 times what we have.

That’s why I think that the airdrop of xcomb we were thinking to do should be carried out this way and not like we were thinking, because if we do it like they are doing I think we will get way higher TVL.

So I think the best way to do it would be to do the airdrop based on the liquidity provided both retroactively on 1 month before the farms open and also on the liquidty provided in the first month since the farms open.

Regards, Aitor :honey_pot: :honeybee:

5 Likes
#2

@CryptoWonk its nice to see that you are trying to bring in ideas by researching other AMMs in the market. However unsure if i get what you mean? So the xCOMB airdrop is pretty similar to other incentives I have seen and the APYs I guess will depend on the amount of liquidity that we attract v/s the allocated xCOMB for that specific LP and the price of xCOMB.

I think the way tulip swarm has strategised this sustainable farming is a good start. I think we may need to push the marketing on this new farming opportunity but will be interested to see what you think the others are doing better?

High APYs at the start generally will bring greedy whale farmers that will farm and dump xCOMB and leave for greener pastures. Also the same with the airdrop, as we are not actually retroactively providing the airdrop, it will tend to get a lot of users that may just decide to dump their airdrop and leave.

2 Likes
#3

If I understood it well the xcomb airdrop will be based retroactively on who provided liquidity before the farms opened, so the ones that provide liquidity after the farms open will not be eligible. So I would do it both retroactively on who provided liquidity before but also I think that the ones that provide liquidity the first month after the farms open should also be eligible (of course they will receive lower because they provided liquidity for less time). Or maybe we can do two aidrops, one for the lp before the farms and another for the lp after the farms opening.

1 Like
#4

This information is interesting, although I have been lp for a long time, you have an idea for when that xComb airdrop will be

#5

The airdrop thing is cool and it would be just for one or two times I thing it could be done.
What I don´t think would be sustainable are periodic airdrops.
I think it is a good proposal.

#6

Let’s hope to see what happens :raised_hands: with good energy all that can be obtained is profit

#7

Yes, I do. I totally agree with your suggestion

#8

My proposal would be to just do 1 airdrop, but that the people providing liquidity 1 more after the farms open are also elegible, because this would attract a lot of TVL if we market it properly.
Pangolin, Spirit and other dex exchanges did it.

1 Like
#9

The question is, I believe that the airdrop will be launched based on users who already have liquidity before because it would not make sense to do it later because there would be multi-accounts and thousands of other things!

#10

I do not agree with this proposal because our goal is to expand this community and we have to use all kinds of lotteries and various challenges to be able to attract people to this community. do

#11

In my opinion, they should continue these prizes, lotteries and challenges :+1:

#12

Like uniswap airdrop?
I don’t see that case usefull if you mean it

#13

Well i guess in a true sense it’s not retro active (in my opinion) as we are doing a marketing push and letting future users know that there will be an airdrop on criteria that can be met now and for some time in the future. My worry with this type of approach is that it brings greedy whale farmers that will provide LP for the sake of the airdrop, dump and then move to the next high APY farm.

I think this will work better if we offer like a lock up of sorts for the liquidity where the airdrop is proportional to the amount of time the LP is liked in Honeyswap.

1 Like
#14

I think your idea make sense and we should try to apply it :slight_smile:

1 Like
#15

I believe that this is already determined by the relevant team, although I am not out of context, the snapshot of said airdrop was possibly taken, and since the ideal is that the airdrop is for those who trust and maintain their lp, I do not see it coherent to say place lp there will be an airdrop, let’s say it is a reward for trust! , since if you take into account lp after the launch the result will be multi-accounts, good vibes