xMOON-WXDAI farm

🌿 Proposals
#1

Proposal Information

Proposal description:
xMOON-WXDAI farm on honeyswap.

This proposal will fund the next pool :

  • “Moonflower” pool that holds the xMOON-WXDAI pair with 35 HNY

Proposal link :

Proposal Rationale

Moons from Reddit are ERC-20 Tokens given as rewards for an individuals contributions to r/CryptoCurrency either via posts or comments etc. They can be freely transferred, tipped and spent in r/CryptoCurrency. Moons are distributed monthly using Reddit Karma as a basis for contributions.

Currently the xMOON-WXDAI pair is at rank 5 with $89 990 liquidity and $104,213 volume over the last 24h.

WETH-HNY has received 100 HNY for the proposal, with $710 000 liquidity and $210 330 volume over the last 24h.

If we compare the volumes , its basicaly double the amount, but the liquidity is 7x the amount. Therefore, I propose founding of 35 HNY

Expected duration:
30 days

Team Information

Me ?

Funding Information

Amount of HNY requested:
10HNY

Ethereum addresses where funds shall be transferred:

0x7d56c31c8A184ef4f40b0433e8C60e54a15bdD1a - 10HNY

More detailed description of how funds will be handled and used:

Distributed through the farm

12 Likes
#2

Don’t really know about yield farming mechanics tbh, but the xMOON thing has definitely been a source of attention and adoption for xDAI, as evidenced by this CoinDesk article yeserday: Redditors are now spam-farming Bricks and Moons.

One possible downside is that perhaps the xMOON thing has brought too much attention, too fast, for the community to absorb. So, 1Hive may not want to pour gasoline on the fire if the xMOONs fire is already too big :fire:

2 Likes
#3

I don’t personally own MOON but the r/cryptocurrency subreddit has seen a lot of activity with the release of this coin. The demand for trading it is huge. I think that this farm would definitely boost Honeyswap adoption.

2 Likes
#4

I’ll just add a suggestion for the name: Moonflower (since the other farms have flower names). :crescent_moon:

5 Likes
#5

True! Moonflower it is

#6

Could you guys give me feedbacks on why you give don’t think its a good idea? the trading pair is in the top 5 and only ask for 35HNY for the farm

#7

I believe this will bring a lot more redditors to our community. I, myself, came from reddit, so, speaking from experience :smiley:

Edit: But as I get it, the question here is whether the community needs a huge boost from reddit or not.

1 Like
#8

Hey Felix,

I do like the idea of this farm, but the request amount seems a little high. Lets break down the other farms and compare:

  • HNY/XDAI = $2,414,355 liquidity / 300HNY = 1HNY per $8,047.85 invested
  • HNY/STAKE = $1,866,266 liquidity / 200HNY = 1HNY per $9,331.33 invested
  • HNY/WETH = $845,692 liquidity / 100HNY = 1HNY per $8,456.92 invested

Your proposed farm:

  • xmoon/xdai = $88,216 liquidity / 35HNY = 1HNY per $2,520

Now of course the liquidity in the pool will go higher if this farm was to get funded, but there is no way to get these tokens outside of users bringing them in from reddit which only helps the holders of the LP token before the announcement. Another thing to mention is these are still TESTNET tokens, which means we may not want to incentivize something that isnt even officially released. I would bring this in line with the other pools of 1HNY per say ~$8800 which would mean funding this proposal/farm with ~10HNY. I think more people could get behind it understanding this math.

6 Likes
#9

@Blazar Good math, yes 35HNY is a bit higher compared to others. As like you said 10HNY is better.

#10

Thank you for explaining the math so well.

#11

This is a serious question.

Will it really bring more Redditors to the community?

Or will it just bring them to the exchange?

I’m willing to take the hit, so to speak.
I think it will bring more projects to the XDAI network. That has to be good doesn’t it?

Or no?

How cloggable are we?

#12

I appreciate the feedbacks, the amount of HONEY wasn’t final, I tried my best to get an amount that seems reasonable, guess I was wrong :slight_smile:.

#13

Proposal has been change from 35HNY to 10HNY.

1 Like
#14

I don’t understand, under “Amount of HNY requested” it says 10 HNY, but under “Ethereum addresses where funds shall be transferred” it says 35 HNY. What amount is this funding proposal requesting?

Edit: Never mind, I see the post above mine explains. Can you change it in the entirety of the original post for future clarity? :slight_smile:

1 Like
#15

Ohh my bad, i fix it

#16

If it wasn’t for Moons I would have never discovered Honeyswap so I guess it does bring us to the community as well. When I saw what is being built here I just had to jump onboard.

On the other hand, I don’t think incentivizing xMoon LP would be good right now because they will eventually have to move to mainnet. This would require a testnet snapshot and everyone will have to take them off the exchange during that period. At least that is my understanding of things.

4 Likes
#17

linking our self to moon and brick will help the growth of honey swap ~ reddit user will bring alot to us ~~

10hyn seems oki

#18

Yeah when they start transfering there coins in massive waves(moon/bricks) to xdai chain gonna explode everything :boom:

#19

opening xmoon / hny or xmoon/xdai farm will have more users