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Proposal to Match STAKE incentives for Symmetric (ticker:SYMM) on xDai

Proposal to Match STAKE incentives for Symmetric (ticker:SYMM) on xDai

This post is requesting feedback to signal the community.

Symmetric is a customizable weighted, multi-token liquidity pool Decentralized Exchange (DEX) running on xDai network. Symmetric has market cap range between $2-$4M with a current xDai TVL of about $1.28M. We are anticipating TVL to grow beyond $10M and thus will be requesting rewards of $100k over the course of 6 months to incentivize the liquidity pools on the Dex.

Symmetric is requesting $100k in STAKE incentives paid out over 6 month period where the majority of the rewards will be distributed to various $SYMM and $STAKE pools. Symmetric will match $STAKE rewards 1 for 1. The KPI metrics are shown below. Further details of how this program would pay out can be viewed in [KPI incentive program forum post]

ATTENTION: The kpi metrics will limit significantly payout if TVL and Market Cap KPI targets are not met. This is not a traditional blank check farm rewards program and consideration to this fact should be weighed before casting your vote.

Month 1 100% rate to bootstrap platform
If TVL less than $1M is achieved then 25% rate
TVL of $1-$10M 50% rate
TVL $10-$50M 75% rate
+$50M 100% rate

Do you support $100k in Stake rewards for Symmetric on xDai?

  • Support
  • Oppose
  • Modify

0 voters

4 Likes

Thanks for building on xDAI, as a balancer user on mainchain I appreciate to see you here:-)

3 Likes

Thank You… we here now!

3 Likes