Weekly Competitive Liquidity Provider Program

🌱 Ideas
#1

Proposal Title

Weekly : Rewards for top liquidity providers(exclude non HNY pairs).

Proposal Information

1- 5(10 HNY) can be rewarded 2 HYN each
5-20(15 HNY) : can be 1 HYN each
20-50(15 HNY) : can be .5 HNY each
50-150(25 HNY) : can be .25 HNY each
150-500(35 HNY) : can be .1 HNY each
Total : 100 HNY/week
Can be run for a month. Total 400 HNY

Proposal Rationale
By rewarding HNY to top liquidity providers, honey swap can get lots of users in the eco system. once they use honey swap they will know how good it is compared to other DEX’s. we have to have high rewards to get peoples attention. 400 HNY/month is OK i suppose.

what do you guys think?

1 Like
#2

Personally i’ve never liked these competitions, it just means the rich get richer. It basically means the more you have, the more you get given free, which increases the wealth divide between whales and small holders.

2 Likes
#3

We are doing this to get peoples attention as honey swap has less liquidity. These days without incentives people are not showing interest which is disappointing.

#4

Love seeing new ideas, but not a fan of this one. This proposal is proposing giving out way too much HNY in too short a period of time. Plus, the larger the liquidity the provider the more they’re already receiving from the 0.3% fee pool and from farms.

It’s great to see possibilities for attracting liquidity providers, but I think this one is too much.

1 Like
#5

i disagree, It’s a risk vs reward play. As hny is too volatile its a very high risk play. No one will risk if the rewards are not tempting.

#6

I disagree. Not sure the purpose of this proposal ? what is it make HNY better ? or just want to getting money out of HNY ?

1 Like
#7

Honeyswap is better i understand. but, where is the liquidity ? without liquidity people are not going to use the exchange? why did sushiswap become so popular? because it’s better than uniswap? NO, it’s because of the rewards. we are not giving out crazy rewards like other exchanges. 400 HNY/month to attract people in the eco system. what is the point of HNY if people are not using honeyswap?

#8

Want to popular? It does not mean we need to put liquidity to make it popular, the important thing is do more marketing. Let spreading out more and more about it and put more your effort by working hard.

3 Likes
#9

I personally think this is a bad idea for a couple of reasons, the most obvious being:

  1. There are already more than enough rewards for liquidity providers in the shape of transaction fees (0.3%) and farms ( some of them with 100+% APY)
  2. HNY price is already low, having whales dump even more HNY on the market will create additional sell pressure.

To be honest, I would like to see a proposal that rewards top traders by volume rather than liquidity.

1 Like
#10

Now that would be an interesting competition.

I agree with the general sentiment though. Usually, the profits from being an LP or a trader are their own reward. But poker sites do offer rakeback programs, too.

#11

This! Marketing should be the focus not easy money.

#12

How do you market with out attention ?

#13

Like this idea… grab traders/liquidity providers attention some how.

1 Like