Draft Proposal: Add LM Rewards to BOND

DAO Archive (SUBMITTED)
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Proposal to Activate LM Rewards on Barnbridge (BOND)

This proposal is expected to appear on Snapshot for voting some day in Juli 2021 at 12:00 pm UTC

TL;DR

  • Attracting a wider audience to Bancor
  • Offering a better oppertunity than Coinbase custodial staking

Justification

Both Gemini and CoinBase are increasingly exposing their community to Barnbridge. To catch this momentum, we can offer Barnbridge holders a way to diversify their yield by adding LM rewards. The simplicity and protection of Bancor single side LP staking combined with the financial incentive from LM rewards creates a low entry barrier for new investors to explore DeFi. Potentially drawing them away from their homes on centralized exchanges and onboard them to DeFi…

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Bad timing for this proposal, the yield on the bond dao is currently higher than the yield that bancor LM can provide. This is a waste of LM. Should re consider this after the BOND DAO incentives are over.

As it stands now, I do not support this proposal as a BOND and BNT holder.

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May I ask for some data? I am having trouble discerning the yield of the BOND DAO; it doesn’t seem to be available at a glance. Where can I find that?

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Last I saw it was 40%+

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I think this proposal needs to be developed to make a more convincing case to the Bancor DAO to provide LM rewards. Some proposals that can be use as an example uniswap and maker.

Do you know when the BOND DAO incentives are going to expire?

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The BOND DAO staking rewards expire February 2022

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To a close approximation, the only LP in the BOND pool is the BOND DAO treasury. This is awesome but completely disconnected from the purpose of LM rewards. I agree with @glenn that we should wait for the BOND DAO incentives to wrap up before releasing a competing staking incentive.

2 Likes