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Proposal: Collaboration between DXdao/Swapr and xDai/Stake Communities

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:

  1. Increase the SWPR token distribution going to xDai
  2. 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
6 Likes

Thanks Sky, for writing this proposal. I use swapr for quite a while on xDAI and like especially the out of the box farming tool which makes it so easy even for very small projects to offer this.

While I generally doubt that too many different Dexes are sustainable on an ecosystem long term, cause of the fragmentation of liquidity, it is good to have the choice to let the system evolve.

Therefore I will support your proposal although I was a bit disappointed swapr forced me to go to arbitrum to claim my airdrop. Coming from mainnet it might look cheap but coming from xDAI fees there are much too high.

1 Like

Strong support for this proposal.

A snapshot vote is now live with voting period from 15-Nov-21 through 21-Nov-21.

Snapshot: Proposal for STAKE rewards on Swapr

Proposal for STAKE rewards on Swapr

https://snapshot.org/#/xdaistake.eth/proposal/0x96a6cbb5d26db0659bed7607b966f86fc418acfcebfcd11affe1d0a1c0657263

Please vote.

2 Likes