As the Giviverse celebrates its first 1% of expansion, I’d like to share an idea to expand the GIViverse… to the Multiverse
The core idea is simple: add a new section to the GIVfarm and GIVstream for partners, and enable partner DAOs to launch their own liquidity mining programs with their very own streams.
There’s no catch for the DAOs, and this could potentially be a public service provided by Giveth. But while there doesn’t have to be any fee, I think a small suggested donation to Giveth’s treasury could be justified. That donation, let’s say 1% of the total liquidity mining rewards allocated, could not only provide a healthy stream of valuable governance tokens to Giveth’s treasury, but would also keep participants of any of the partner pools engaged with the GIVeconomy for the next 5 years. These participants are all target participants for the GIVeconomy, and the ability to secure some of their mind share and retain them as active users over the next 5 years would be incredibly invaluable to us.
Incentivized pools in the partner section of the GIVfarm could include any pair (ie. HNY:FOX) including but not limited to GIV. If a pool includes GIV (ie. GIV:FOX), Giveth can choose to allocate some of the GIV we have earmarked for future liquidity mining to these programs, and if the partner matches, we can reduce each DAO’s personal costs for liquidity mining. @monstrosity inspired this idea when he reached out about a potential joint liquidity program for GIV:ELK and asked whether the GIVfarm could be expanded to support additional pools and could support dual rewards as well as whether these rewards could tap into the GIVstream.
@amin confirmed that not only could we do this, but the GIVfarm and GIVstream were designed to support this, so the lift should be relatively low. We would also need to design these partner sections into the GIVfarm and GIVstream, and @markop has already planted the seed in the design team’s mind. If the concept is a hit, we should be able to add new farms and streams with ease; certainly much easier than it would be for another project to launch a farm and stream themselves.
Lastly, while totally unrelated, I feel like this concept could go hand-in-hand with tokenswaps. To kickstart a liquidity pool, GIV and the partner DAO can engage in a tokenswap and pair the tokens we each receive with more tokens from our treasury to deposit into an LP, creating protocol-owned, revenue generating liquidity for each DAO. While this wouldn’t be a requirement for projects interested in launching their own streams, the streams could act as a nice funnel to bring tokenswap dealflow to our doorstep. @hotl.eth has already set the first of these tokenswaps into motion with BrightID.
If we DAO this well, every cool DAO will want to do a tokenswap with Giveth and launch a GIVstream, because it’s for GOOD and GIVing is cool. g00d…dA0z! Lot’s of DAOs want to do good, but this enables them to do good without being benevolent altruists, which could lower the barrier for getting proposals approved by their governance.
As more DAOs launch on Gnosis Chain, the demand for liquidity on DEXs will continue to grow. “Liquidity Mining 2.0” protocols, such as Olympus Pro and Tokemak, are some of the hottest, most in demand services for DAOs at the moment. Giveth has created an elegant evolution to traditional liquidity mining that
- Decreases immediate sell pressure of liquidity mining rewards by streaming the majority over 5 years rather than releasing all up front
- Attracts and rewarsd the best type of liquidity providers, long term hodlers, rather than “liquidity mercenaries” that dump 100% of what they farm
- Keeps any participant in the farm invested in the project for the next 5 years
Looking forward to hearing everyone’s thoughts and feedback on the high level concept. If we agree this has legs, here is what I recommend for next steps:
- Continue refining the concept with community feedback (ongoing)
- Talk to some friendly DAOs to see if they’re interested. I recommend BRIGHT, FOX, HNY, and ELK as initial DAOs we run this past. If design team has bandwidth, maybe we throw together a mockup of a partner section on the GIVfarm and GIVstream with these project’s tokens to help paint the picture.
- If 2 or 3 of these DAOs are interested, I think we should run with it, launching with the initial DAOs and dedicating some resources to marketing this to other DAOs, trying to get as many cool projects into the GIVfarm and GIVstream as we can
What do you think of the overall concept?
- dig it
- not feeling it
What should it cost a partner DAO to launch a farming program and stream? (can select multiple options)
- A % of liquidity mining rewards (please comment a suggested %)
- A flat fee (please comment a suggested fee or range)
- Name your own price
- Other (please comment)