Extending the GIVfarm (again)

Rewards
14

Hey everyone, I remember @Cotabe mentioned a few weeks ago that our current GIVfarm rewards will be running out soon. With all of our cool new products I think we lost the thread on this one. FYI…
:rotating_light: Most GIVfarms are set to end on August 19th :rotating_light:

Now is the time to tackle the question of if we are extending GIVfarm rewards for any programs outside of GIVpower and the Angel Vault, which already have their rewards approved for the next 6 months.

The farms currently on the chopping block (when rewards end) are:

  • GIV on Mainnet
  • GIV/ETH on Balancer
  • GIV/WETH on Sushiswap
  • GIV/DAI on Uniswap v2
  • GIV/ xDAI on Honeyswap

Here’s a quick refresher on the parameters from our last extension:

The first GIVfarm Extension happened on June 24th, 2022. The farm was extended a further 8 weeks with an additional 4 Million GIV allocated to farming rewards.

A flat 500,000 GIV is distributed weekly from June 24th until August 19th 2022

Here is a breakdown of the farms, the percentage allocated to each and the flat amount of GIV distributed weekly:

Farm % Allocated GIV Per Week
GIV/DAI Uniswap V2 on Mainnet 23% 115,000
80GIV/ETH Balancer on Mainnet 15% 75,000
GIV Staking on Mainnet 5% 25,000
50GIV/xDAI Honeyswap on xDai 25% 125,000
50GIV/WETH Sushiswap on xDai 17% 85,000
GIVgardens/staking on xDai 15% 75,000

I do acknowledge that all goods things must come to an end and we can look to the horizon for some initiatives that might be a great boon for our DAO owned liquidity such as:

I would like to propose however a 3 month extension for the following farms:

  • GIV/ETH on Balancer
  • GIV/WETH on Sushiswap

Extending them from August 19th for 12 weeks precisely, taking us to November 11th, 2022 and to distribute a total of 1,680,000 GIV in rewards. I would propose this weekly distribution:

Farm % Allocated GIV Per Week
80GIV/ETH Balancer on Mainnet 57% 80,000
50GIV/WETH Sushiswap on xDai 43% 60,000
Total Weekly 140,000

I think these ETH farms are a very important incentive to capture the potential upside of ETH and the inevitable growth of crypto and the Ethereum ecosystem. In particular the GIV/ETH Balancer pool will allow liquidity providers in the Angel Vault a place they can directly deposit their GIV on Mainnet that they receive from the rebalancing effects of the program.

Time is of the essence (again)!

WDYT?

  • Looks good!
  • No, I have more changes and/or concerns
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