KTON Liquidity Incentive Treasury Proposal #1414
Replies: 5 comments 2 replies
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2000 KTON is a solid liquidity, it will allow to buy / sell 100 KTON without any problem. The Funding Amount is not large, considering the stable and daily inflow into the Treasury. |
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@PartnershipDude Why are you using 400 KTON when the treasury has 477.339 KTON, we should probably just request all of that amount. Thoughts? https://darwinia.subscan.io/account/0x6d6f646c64612f74727372790000000000000000 |
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@2xJDubs I used 400 KTON there so that the Treasury isn't left dry and in case KTON is needed for a high priority proposal, there'd be something to fall back on. |
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I would also use whole ammount of Kton as this was completly forgotten it even existed😀 |
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There is a recent change to the above discussion as the Snowswap contract can only support RING as rewards at the moment. Following this, the incentive amount in RING was increased to compensate for the equivalent amount of KTON. Let's Grow! |
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BRIEF SUMMARY
Proponent: Partnership Dude + DCDAO Official Ambassador Group +( Community ideas/suggestions on https://github.com/orgs/darwinia-network/discussions/1377 )
Date: 26/02/2024
Funding Amount: 1,400,000 RING
Short Description: We received a delisting notice of KTON on MEXC and liquidity for token is poor/inaccessible on Snowswap.xyz DEX, thus the need for Incentive from treasury to boost liquidity provision.
We are proposing 1 400 000 RING as incentive for KTON/RING LP Farm on https://darwinia.snowswap.xyz/ for a period of 6 months with a revaluation and a funding proposal needed after that time frame to keep it going.
Proposal Category: DApp Incentive
Website: https://darwinia.snowswap.xyz
SOURCES OF REWARD:
The reward sources are from the TREASURY.
1 400 000 RING rewards which will cover for the initial 6 months period of liquidity provision will amount to;
1 400 000 RING / 180 days = 7,777 RING/day (this is the daily reward pool to be shared by LP tokens in the farm)
REWARD MECHANISM:
Liquidity target: 2,000 KTON and a KTON equivalent of 1,996,711.25 RING
RING Rewards: Reward pool to be split evenly among total liquidity provided on the farm.
Reward splitting mechanism for the farm can be better modified by the developer team while maintaining this idea.
Future Plans:
In the future, the farm can then be re-incentivized by a renewal proposal, following the performance of this initial one.
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