Requesting $GIV to fund GIV-ELK Dual Reward Farm

I will link proposal here after some time for discussion before proposal is submitted

Proposal description:
Elk finance has recieved $20,000 in $STAKE rewards to incentives liquidity providers and thus liquidity flow to Gnosis chain for the months of Nov-Dec. As of Dec 25th Elk was awarded another $20,000 in GNO rewards incentivizing the xdai-ELK, GNO-ELK pair. Elk is a burn and mint bridge migrating to decentralized node operators which allows liquidity flow from any of the networks including; ftm, matic, avax, bsc, moonriver, gnosis and many others. Elk is using the $GNO rewards as an opportunity to ignite some cross marketing exposure by asking protocols if they are interested in partnering in this program as well.

Since the start of the program in Nov Elk finance has seen ~$2.5M in transfers to gnosis chain across the elkNet. The following protocols have participated since Nov: STAKE, FOX, AGVE, HNY, BRIGHT, SYMM, COLD, PUNKS, XGT, and RARE. Most recently FOX has requested to renew another 42 days starting in early Jan.

Proposal Rationale
The idea is $GNO is rewarding xdai-elk and gno-elk pools. $ELK is rewarding all other pools at a rate to maintain approximately 100% APR. Elk has been partnering with as many protocols interested in providing some amount of incentives such as $5,000. As new partners rotate through the program they would see these projects receiving high rewards and would provide marketing and network exposure. An ama and/or an article can be published and ocassionally retweeting each others protocols and the farms to maintain exposure is requested as well.

Expected duration or delivery date (if applicable):
pending proposal execution to fund approximately $5k in $GIV to the elk-giv farm on dual reward farm will last 42 days, during this time we will continue to discuss opportunities with giv stream see discussion here. elk will tweet about the farms along with an ama to increase giveth exposure to the broader elk community.

Funding Information (For Funding Proposals)

Amount of GIV requested: 12,195 $GIV ~$5,000 for 42 day period (updated on feb 27, 2022)

xDaaddress where funds shall be transferred:

1 Like

How does this proposal benefit Giveth’s Mission?

To build a culture of giving that rewards and empowers those who give - to projects, to society, and to the world.

I understand there is benefit in providing liquidity in strategic places across the ecosystem but how does creating a GIV-ELK farm empower our donors to participant in governance? How does it help provide funding and exposure to for-good projects on our platforms?

1 Like

That’s a really good question and thank you for asking. Ofc the primary purpose for the giv-elk pair is to attract elk community to the giveth platform. However, there were a few ideas brought up to further the Giveth mission:

  • What I would like to see is ELK/GIV dual reward donations.
  • Have a GIV-ELK LP giv-stream (name still in-progress) that empowers those who donate and then donors could compound their rewards.
  • ELK in the past did a charity event to help Covid victims in India and would love to do something like this again on a bigger scale. It would be great to use giveth for future charity events.

In our last community call with giveth the dual reward for donations and the giv stream wasn’t 100% live yet and as a first step we could launch the farm to co-market giveth to the elk community as an route for donors to give back as we work on the giv-stream and dual giv/elk donor rewards.

1 Like

Thanks for posting @monstrosity! I’m a big fan of ELK and would be in favor of utilizing $7000 of the GIV we have earmarked for future liquidity mining programs as a 30-day trial on the ELK farm.

I would personally prefer to see ELK be one of the inaugural GIVfrens to get a stream, but if ELK is hoping to launch this sooner, I don’t want to hold this back and would support this proposal. I would likely support doing 2 simultaneous farms even on each of our interfaces.

One benefit of the ELK farm that the GIV farm does not offer is Impermanent Loss protection, which is pretty cool and would be an awesome addition to the current lineup of farming options.

full disclosure: I’ve been enjoying the ELK farms, particularly the FOX-ELK pool, and am an ELK holder :deer: