The DXdao/Swapr and xDai/Stake communities continue to have strong ties.
DXdao’s most active governance base is on xDai chain, and capital has come along with that. DXdao also leverages xDai Chain for Omen prediction markets.
Earlier this year, DXdao launched Swapr on xDai and it has gained some traction around certain pairs, currently with $7m of capital in pools on Swapr xDai.
It has also garnered some attention with PoolHAUS and Decentralized Liquidity Provision.
DXdao has always had a goal to become the go-to DEX on xDai for strong communities.
DXdao recently launched SWPR farming on xDai which is currently in the 2nd Epoch on xDai, with 111,650 SWPR to be distributed over the next two weeks, currently 10% of SWPR token distribution.
111,650 SWPR is currently $24.5k over two weeks
There is currently discussion to double the rewards on xDai to 223k SWPR, equaling about $50k over the two week period.
This proposal aims to lean into the Swapr xDai ecosystem via two methods:
- Increase the SWPR token distribution going to xDai
- Request an equal amount of STAKE rewards to be used as rewards in addition to SWPR - $200k of STAKE to DXdao to be used in Multi-reward farms on Swapr xDai over the next 4 Epochs (8 weeks).
The xDai/STAKE community is welcome to give input into what pairs should be incentivized.
The most recent Swapr Epoch on xDai referenced rewards for the following pairs. With the help of the xDai/STAKE community, it will be great to expand this.
Opportunity: Jointly Sponsoring Liquidity mining rewards for Swapr on xDai
Benefits to the xDai community:
- Unique: Swapr brings a unique DEX experience to xDai
- Features: With it’s eco-routing which the xDai team has shared with its community, it becomes the ideal DEX to swap any tokens on xDai, as it always gives the user the best price no matter which DEX it’s on.
- Farming: Swapr’s new farming interface allows a mostly “permissionless” farming ability for any project in the xDai ecosystem, including multi-token rewards, timelocks and caps.
- DXdao Capital: Regarding Swapr’s liquidity, DXdao is leading with its own capital by injecting capital into important pools on xDai, so far with a focus to increase liquidity on pools that are lacking. This creates an important ecosystem growth effect.
- Multi DEX benefits: Multiple DEX’s with good liquidity operating on xDai leads to more trading, more users, more arbitrage, and more attention.
- Healthy Ecosystem: Once xDai has more DEX liquidity, it will attract more products and dapps that can only come to xDai once there is sufficient liquidity for certain tokens. There are many protocols that are dependent on sufficient token liquidity.
There is also a benefit to getting STAKE in the hands of appropriate community members.
Summary
Request for xDai/STAKE community to grant $200k of STAKE to DXdao to be used in Multi-reward farms on Swapr xDai over the next 4 Epochs (8 weeks).
** Additional Technical information**
- Currently, xDai Swapr farms are initiated by DXdao via a governance proposal on xDai.
- The simplest method would be for the STAKE to be sent to DXdao’s farming relayer.
- DXdao Avatar on xDai: 0xe716EC63C5673B3a4732D22909b38d779fa47c3F
- DXdao xDai Proposals: dxvote.eth
, the smarter next generation of liquidity incentives