Create a campaign that incentivizes token communities to trade on Bancor in order to receive liquidity mining rewards.
Bancor has become well-known as a platform to provide liquidity and earn passive, reliable yield with no impermanent loss. As liquidity rises, Bancor is increasing its efforts to spread awareness among users that Bancor is also an excellent place to trade tokens.
Part of these efforts include bancor.network updates designed to better serve trader communities, including limit orders, historical charts and market analysis tools.
As a complement to app improvements, Bancor is launching a series of trader acquisition campaigns – and Pool Races could be among the first to launch.
How Pool Races could work
- All pools that meet the criteria at the start date below are eligible to win:
- Active pools on Bancor with $1M or more liquidity
- Already whitelisted (at start date, this allows time for tokens to apply for white listing in order to participate)
- No previous or current LM rewards on the pool
- 2 Winning pools automatically get 10K BNT per week for 4 weeks (40K BNT total):
- Winner 1:
- The pool that generates swaps from the most unique wallets.
- Winner 2:
- The pool that gets the most retweets.
- Winner 1:
Note: If the same pool wins both, the pool with the highest number of traders and the second most retweeted pools both win.
Why retweets? Larger tokens will naturally have an advantage in terms of trader count, while RTs will allow lower-cap tokens to better compete.
Receive approval from the BancorDAO
Publish a blog post about the race (including start and end dates).
a. Pools that fit criteria (above) on start day will be included.
b. Call to action: get your favorite token whitelisted ASAP!
c. Alert token communities about the campaign.
On start date of race:
a. Publish a list of qualified pools
b. Tweet each pool (inviting retweets from respective token communities)
At end date:
a. Calculate traders per pool and identify winner
b. Count RTs per tweet and identify winner
Commence LM for winners
Evaluate effectiveness and determine whether it’s worth doing again