From the GIVeconomy Call, we discussed that setting up a Univ2 pool for GIV/DAI would be relatively low effort from a development side since the design is already prepared, we would just need run the scripts to deploy the rewards.
Next week is “week 13” of our 26-week rewards cycle. We have about 5M GIV from the Univ3 pool that we had pre-allocated to be rewards from that pool. You can see this in our docs
The GIV/ETH balancer pool had only 2.5M GIV allocated to it in total, and there is less than 1.25M GIV still left to give out because these rewards follow the “1 wave to rule them all” pattern, which changes every 2 week cycle.
My idea is that to make a quick-and-dirty solution for mainnet liquidity, we could:
- start up a GIV/DAI univ2 pool
- allocate less than 1.25M GIV as rewards (mirror whatever the amount left is for the balancer pool)… and set it up so that the rewards go out following the same pattern as our existing balancer pool
- have the rewards program end in June 2022, at the same time as other pools
The advantages would be:
- We already have some GIV/DAI liquidity in Univ2 thanks to our 5 ETH from optimism so LPs won’t get as much impermanent loss
- The GIV/stable pair helps provide a bit more token price stabilitiy
- Incentivizing Univ2 liquidity ensures we have liquidity on uniswap (which we lost due to the univ3 rewards ending)
- We can get this up fast - compensating for any loss in liquidity due to the time it will take to start the Angel Vault
I would love to get community opinion on whether or not this is a good idea… so:
Should we push to set up a GIV/DAI Univ2 farm?
- Yes! This is important!
- No, it’s not necessary
- Maybe, I have some concerns & will comment
- Abstain
0 voters