Bringing in some ideas from our discussion in the discord over the weekend and our GIVernance call - I would like to see this initiative roll into the giveth mission of supporting for-good projects.
Many liquidity farms in current degen strategies take a cut of the LP tokens deposited and disburse them among different pools - perhaps token buyback programs, developer funds etc…
It would be awesome to connect the degen to the regen by levying a similar fee on farming LP deposits and using them for:
Giveth DAO owned liquidity
providing liquiditable assets for GIVmatching
This, in tandem with levying a small percent from DAOs who want to participate with their token to GIVmatching will ensure that DAOs and degens (not donors) alike will contribute to funding philantrhopy projects and the future of giving.
This would be a possible solution that would make me definitely more comfortable for priority development of this idea and an expansion of D2D relations.
Just finished reading everything in the discord and though I’d put my 2 cents in here, just want to signal support for the implementation of this… partnering with other DAOs, attracting people to use the farms and then keeping them interested with the 5 year stream… I think this is super valuable networking… and also aligned with the goal of educating and bringing web3 tools to projects on the ground…
Projects who are receiving donations can also use them to take advanage low-risk opportunities in the GIVfarm to gain a yield. This also encourages projects to investigate and learn more about partner communities who are doing good work… piquing their interest in web3 and prompting them to learn more.
Agree we should add info about each project to the page. A “why should you care/why should you support” w adding liqudiity.
I think charging a 2% fee to DAOs wanting in (and no fees ever to users) is a great idea… 1% going into Giveth and 1% going into the GIVmatching pool (forum post coming soon explaining that)… then… funds from communities on the GIVfarm are being used also to fund projects on Giveth.
I think adding fees onto the farm is kind against one of our core “zero fees” for users concepts… If we really want to go with this approach, I guess we could frame it like a “for-good donation”… instead of a “fee”… but then it’s sort of awkward… the funds would go to the matching pool and then should maybe get GIVbacks no?
Things get weird. I much prefer charging fees to DAOs who want in.
how do we effectively create the transition of degen to regen? by incentivizing deep liquidity we make GIV cheap and easy to get meaning GIVbacks as a primary means of acquiring GIV can be easily circumvented. I think if degens want to come and play the farming game we should have an effective way of them contributing to empowering for-good projects.
I also think if we can flip ideas like token vesting and brand them as a stream then stuff like “deposit fees” can easily be transformed into something exciting - we have a lot of excellent creatives in the community.
I feel very strongly about levying some sort of revenue from degens that benefit Giveth and for-good projects, otherwise at this point in the game our motto of degen to regen seems to sit on some very thin arguments.
@mitch I like this idea. I would also recommend if we can, adding a “payback period” calculator on the front end, so those entering a degen pool understand how quickly it would pay itself back at the current price / APY and the deposit fee.
Example:
Deposit fee 1%
APR/APY: 365%/3678.39%
Payback time ~1 day
It’s a good question/idea. I know Elk is potentially interested in this too. Are you thinking 1hive or another project could potentially be interested in this?
While slightly different, one thing that we are prioritizing is giving projects the ability to donate their tokens to a matching pool (similar to how Gitcoin grants does this currently).
Was just DM’ing with @mitch and we agreed to revisit the idea of adding an entry fee for degens into the multiverse. The plan is to meet in the Platform Voice channel at 9:30am MST tomorrow to hear arguments for both sides and see if we can get consensus on the monetization strategy for the Multiverse. If not, we can make a poll in the forum and leave it up to vote, and/or get some feedback from projects on what they would prefer. Hope to see you all there, especially those that have expressed strong feelings on this topic (@karmaticacid & @hotl.eth). If you want to make it and 9:30am MST is not a good time, please lmk.
Two leading monetization strategies:
Charge projects 2% of total rewards
A. 1% to Giveth’s Treasury
B. 1% to the GIVmatching pool
Charge a deposit fee to farmers when they deposit assets into a RegenFarm.
Example:
Deposit fee 1%
APR/APY: 365%/3678.39%
Payback time ~1 day
I think a hybrid would be cool, 1% of rewards goes to the Giveth Treasury so we can build Liquidity with $GIV, 1% of the deposit goes to donation.eth so its not a fee, its a donation to charity.
yes, the terminology is getting muddled but I think Willy means crypto-projects that have their own token and want to create their own farming instance.
def not charging non-profits or mutual aid orgs!!