Add Liquidity Mining rewards for GRT

BNT Liquidity Mining was recently approved by Bancor governance, with weekly BNT rewards currently being generated by liquidity providers staking in 12 rewards pools.

LPs who stake in qualifying pools earn BNT rewards retroactively when liquidity mining eventually goes live.

Considering that Bancor can add new tokens to its liquidity mining rewards, I would like to suggest adding GRT. Even though GRT just started trading in December 2020, most dapp community agree that it will play a vital role in DeFi development. Many even call it google of blockchain, which resonates with same hype around early days of LINK.

Benefit for Bancor: As there currently no significant mining rewards available for GRT whitelisting the token for rewards will allow Bancor to attract new LPs to Bancor, or even first time LPs in general who will realize that they can earn attractive returns on their holding of GRT.

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Strongly in favor of GRT LM rewards

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Second. I vote in favor of adding LM for GRT

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Are you an active member in the GRT community? I would be interested to see how much demand there is out there.

Just thought it should be mentioned that GRT is dPoS, unlike the other coins such as ETH (1.0) and LINK. The reward for it isn’t low either, depending on the indexer we delegate to… most indexer will earn delegators an average of 15-20% APY. Considering there are talks of moving off the LM reward soon, I’m not sure there will be enough LP to warrant this, especially since the delegation costs much gas than staking in pool.

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I am also strongly in favor of GRT LM Rewards.

I am strongly in favor of adding GRT LM rewards. It’s a blue chip crypto project with an extremely active dev team, and community.

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Could elaborate on this?

I’m also strongly in favor for LM rewards on GRT.

With GRT having massive volume on Coinbase, it’d make a lot of sense to do some swapping here instead of there.

Secondly, GRT rewards on their “official” staking system is crappy. It’s hard to calculate and often times you have to worry about being “rug pulled” where rewards can dynamically change and there is nothing you can do about it.

People believe in The Graph, and they want to hang onto their tokens. Having a home on Bancor which competes effectively with other reward programs would be massively beneficial to both the Bancor Network and Graph veterans alike.

Food for thought, but I’m in strong favor of this proposal to vote on and would back it with my full power.

I would be in favor of this if the GRT community can actually signal interest by increasing the amount of liquidity on bancor… as it stands, GRT has only managed to accrue 700k usd of liquidity… which is quite low.

I am strongly in favor of this. The GRT community has already shown interest in adding more liquidity, I know there are plenty who have already undelegated their GRT tokens and are waiting for their tokens to be released to stake their bags into Bancor.

I believe this is a good move

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It’s only been 4 days, so $700,000 isn’t an unreasonable marker.

There’s also little incentive to move the The Graph’s staking reward system, since Bancor offers smaller rewards right now in comparison. With LM rewards, incentivization increases significantly and I think you’d see that balloon into the millions pretty fast.