I am not against the 1% trading fee increase on the ICHI-BNT trading pair since I see it as a secondary pool which would be good for us to experiment with. The only other pool with a high trading fee (1%), good liquidity, and decent volume on our DEX is the wNXM pool. I think there are a few reasons why that formula has been successful and can potentially apply in this case:
- We cornered the market on wNXM and we are the DEX with the deepest pool. This has worked great for us on the wNXM pool and has been a good performer pool for us:
| symbol | total_fees |
|---|---|
| OCEAN | $48,130.10 |
| REN | $57,177.28 |
| GRT | $58,570.82 |
| BAT | $59,210.62 |
| UNI | $96,454.83 |
| ROOK | $99,797.06 |
| ALPHA | $189,352.55 |
| AAVE | $189,649.29 |
| SNX | $190,236.23 |
| MKR | $242,532.14 |
| YFI | $260,905.56 |
| ENJ | $331,283.72 |
| wNXM | $370,208.45 |
| MATIC | $1,146,671.58 |
Total Fees Past 30 Days
If we can achieve a similar outcome with the ICHI pool then I think it will be successful as well.
- Part of the reason why people staked on Bancor is because the rewards for staking wNXM on the native platform come with risk (slashing if there are claims and also 30 day lockup period). What I am getting at is that there aren’t that many other places with good incentives which leads me to the point of ICHI offering LM rewards for other DEXes (1inch, Sushi, Balancer, Uni). I don’t think attracting liquidity to Bancor will be as successful while these other LM campaigns are on going. If Bancor provides liquidity for ICHI by passing this proposal then will the ICHI community look to sunset these rewards?