w₿TC - xDAI Farm

🌿 Proposals
#1

Proposal Information

Fund the wBTC - xDAI farm.

Fund the wBTC/xDAI pool with:
  • 100HNY
  • 125HNY
  • 150HNY

0 voters

To keep things simple the wBTC - xDAI HNY rewards would start at the same time as the wETH/xDAI HNY rewards proposal.

Proposal Rationale

As mentioned here, atm many people are priced out of self sovereign BTC or ETH . This looks like:

  • Custodial exchanges: Low fees, but not your keys.
  • Decentralized exchanges: High fees, but you own your keys.

With HoneySwap people can get started with very small amounts of capital. This allows people to get into cryptocurrencies without having to choose between trusting a centralised operator or paying high fees. For some people this might remove a concrete blocker, whereas for others it might reduce the pain of paying and drive more activity. Regardless, HoneySwap makes it easier to get into cryptocurrencies, which is good for the world and good for HNY.

For many people BTC and ETH are often the first tokens they want to hold. From there they might want to explore community currencies like HNY. In addition, many tokens that list on HoneySwap will want a trading pair with more well known assets such as wBTC and wETH (in addition to HNY pairs). This requires wBTC and wETH liquidity on HoneySwap in the first place. As such, I’d like to see support for wETH and wBTC pairs.

Expected duration or delivery date (if applicable):

Funding the farm for 1 month.

Ethereum address where funds shall be transferred:

0x8db8870ca4b8ac188c4d1a014f34a381ae27e1c2

Farm Link: https://hny.farm/farms/WBTC-WXDAI%20UNI-V2%20LP


FTR wBTC isn’t exactly 100% self sovereign, but it’s conceptually simple (wETH and wBTC). The main goal of this proposal is to help more people to get into crypto assets without centralized exchanges while also supporting overall HoneySwap liquidity. If there’s a better BTC on Ethereum token (or trading pair) that we could/should support please share!

#2

Another important farm. i wanted to ask why 50HNY option was excluded because its looking like we are starting to spend a significant portion of the common pool on incentivizing these farms, but then we’ve already set the bar with the other farms including the upcoming ones(wETH - xDai). Therefore to maintain balance and encourage liquidity in this pool, we’ll have to try to match the rewards of the already existing ones. maybe If we decide to fund the next rounds of farming we have to reduce the rewards across farms and spread it across other new pools.

#3

The reason 50 HNY was not included was because the proposal was mirroring the wETH/xDAI proposal. Apparently I can’t edit the poll after it’s been opened, but that was the reasoning. That being said, if there’s a better wrapped Bitcoin token, trading pair, or amount please share! This forum post is just to gather sentiment and signal if it’s a good idea or not and from there we can submit the best proposal on-chain (if any at all)

#4

We are basically saying the same thing! :sweat_smile: